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FX.co ★ Forecast for USD/JPY on February 1, 2021

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Forex Analysis:::2021-02-01T02:41:15

Forecast for USD/JPY on February 1, 2021

USD/JPY

The dollar rose against the yen by 46 points on Friday, moving to the embedded price channel line of the higher timeframe to the target area of 105.42. At the moment, the Marlin oscillator is leaning slightly to the downside, which indicates an easing of growth for at least a day.

Forecast for USD/JPY on February 1, 2021

Marlin is declining in a more pronounced manner on the four-hour chart. Today we are waiting for the price to continue to consolidate in the area of the gray area on the chart. Moving above the previous high of 104.95 will be a signal that the price will continue to rise to the 105.42 target.

Forecast for USD/JPY on February 1, 2021

Analyst InstaForex
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