FX.co ★ Forecast for USD/JPY on January 12, 2022

The yen does not dare to attack the MACD line of the day scale (114.96). The Marlin Oscillator on the daily chart is tilted downward, which indicates a possible easy and accurate hit of this support and the subsequent price reversal from it. The growth target is 116.15. Consolidating above the level opens the 117.12 target - the resistance of the price channel line of the monthly timeframe.

An alternative scenario looks like this: the price settles below the MACD line and then moves down to the support of the 113.26 price channel.

A hypothetical convergence of the price with the oscillator is formed on the four-hour chart, which supports the option of a price reversal upward from the level of 114.96.