FX.co ★ Forecast for USD/JPY on January 28, 2022

The market situation has changed dramatically in favor of the dollar's growth against the yen - the dollar index has been growing for four consecutive days and during this time it has added 1.65%, the stock indices after the spike on Monday stopped in the fall, this morning the Asia-Pacific indices are growing except for the Chinese ones, as they are closed for a long New Year's holiday.

On the daily chart, the price has gone above the resistance of the MACD indicator line, the Marlin Oscillator has moved into the zone of positive values - the price's road to the target of 117.15 - to the embedded price channel line, is open.

On the four-hour chart, intensive growth continues above the indicator lines with the growing Marlin Oscillator. But at the moment, Marlin is slightly declining from the overbought zone, which is due to the technical aspect of the oscillator's discharge before the expected further increase. Consolidation is supported by the level of 115.24 - the MACD line on a daily scale.