FX.co ★ Forecast for USD/JPY on January 26, 2024

USD/JPY

As financial markets revived after the European Central Bank meeting on Thursday, the USD/JPY pair gained 15 pips. This movement doesn't pose a threat to the downtrend in the medium term.

The Marlin oscillator did not pay attention to yesterday's volatility; it continues to fall. The target is still the level of 146.24. Yield on US government bonds fell yesterday, visually suggesting a trend reversal. The decline is helping the yen strengthen against the dollar.

On the 4-hour timeframe, yesterday's action took place below the balance indicator line. The line itself has turned downward. The Marlin oscillator is ready to resume its downward movement. The pair is following a downtrend.