empty
16.01.2025 04:52 AM
Forecast for USD/JPY on January 16, 2025

The USD/JPY pair began to decline sooner than we predicted in our weekly forecast, as we anticipated this drop would occur closer to the Bank of Japan meeting. The price has already fallen below the support level of 156.04. Our next target is the MACD line at 154.74, followed by 153.20 and 151.30.

This image is no longer relevant

However, this early movement complicates the outlook. We may see a correction from the current level or from the MACD line, and there's a possibility of a short-term false breakout below the MACD line. The Marlin oscillator's penetration into the downward trend territory increases the likelihood of a continued decline.

This image is no longer relevant

On the H4 chart, the price is rapidly moving below both indicator lines and has consolidated below the 156.04 level. We now expect it to reach the MACD line on the daily chart at 154.74.

Laurie Bailey,
Analytical expert of InstaTrade
© 2007-2025
Can't speak right now?
Ask your question in the chat.
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.

We are sorry for any inconvenience caused by this message.