FX.co ★ Forecast for USD/JPY on January 18, 2023

The USD/JPY pair strengthens the reversal signs every day. Now it is the reversal of the signal line of the Marlin oscillator from the lower limit of its own ascending channel, confirmed price reversal from the embedded line of the global price channel around 127.14, settling above the median line of the descending price channel in green.

Now the resistance and target levels are as follows: 129.80 - the price channel line, 131.10 - the upper limit of the price channel, 133.65 - the embedded line of the global channel, where the MACD line is approaching.

On the four-hour chart, the Marlin oscillator broke into the green zone this morning. This is a good thing, since the price has to fight with the resistance of 129.80, near where the MACD line is.