empty
24.01.2025 04:34 AM
Forecast for USD/JPY on January 24, 2025

Today at 3:00 AM London time, the Bank of Japan is expected to raise the interest rate from 0.25% to 0.50%. The accompanying press conference is scheduled for 9:30 AM, and the comments made during this event are likely to significantly influence market movements.

This image is no longer relevant

The current technical situation continues to support the primary scenario discussed over the past two weeks: the USD/JPY pair is anticipated to break through the MACD line on the daily timeframe, targeting lower levels at 154.56, 153.20, and 151.92. These levels have been adjusted to reflect yesterday's high of 156.76, the highest point since November 15. The Marlin oscillator is consolidating below the zero line, indicating a readiness for a downward movement.

An alternative scenario could emerge if the price breaks above the resistance level of 160.20.

This image is no longer relevant

On the four-hour chart, the price is awaiting news from the central bank, currently trading between the MACD line (at 155.60) and the resistance level of 156.76. A drop below the MACD line would suggest further downward movement. Additionally, the Marlin oscillator is positioned favorably for a downward breakout, as it is near the neutral line and likely to align with a signal from the MACD line. We are looking for a definitive signal from the BOJ to confirm the next move.

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.