20.01.202205:33 Forex Analysis & Reviews: Forecast for USD/JPY on January 20, 2022

Yesterday, the yen did not realize the existing technical potential to overcome the MACD indicator line (115.14), and instead finally confirmed the reversal of it, shown on Tuesday (arrow on the daily chart). Also, the signal line of the Marlin Oscillator turned down from the border with the growth territory. Now the price is moving to the embedded line of the price channel of the monthly timeframe in the area of the 113.26 mark.

The price moves down the balance indicator line on the four-hour chart, and it should break away from it soon. The technical picture on the daily chart tells us that the gap is more likely to go down. But while the Marlin Oscillator is in the zone of positive values, visually lying sideways, which may be a sign of an upcoming sideways trend or a trading range that may develop within the gray rectangle. A new low of the day (below 114.04) may introduce the signal line of the oscillator into the negative area and shift the uncertainty to a predominant downward movement.