29.12.202105:48 Forex Analysis & Reviews: Forecast for USD/JPY on December 29, 2021

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As a result of yesterday, the USD/JPY pair dropped by 4 points, which can be taken as consolidation after the 50-point growth on Monday. This consolidation also suggests that the price is accumulating potential for further growth. The growth target is the 115.80-116.15 range. Returning under the MACD line (114.24) will reverse the downward trend, its nearest target is 113.25.

On the 4-hour chart, the signal line of the Marlin Oscillator is approaching the zero line, the crossing of which will be an early signal for a reversal. Most likely, this will happen when the price settles below yesterday's low of 114.72, that is, the pair should grow from the current levels in order not to give such an embarrassing signal. However, the correction may develop to the level of 114.24 already noted on the daily chart.

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