Forecast for USD/JPY on January 4, 2021

USD/JPY


The new year did not bring any clarity for the Japanese yen. Until the end of winter, the markets will be strongly concerned about the fall in stock markets due to the expected increase in tax rates by the new US president as well as the tightening of monetary policy by the Federal Reserve before the end of the new year, while under Trump, investors did not expect any tightening and are not wait for another year and a half, but hints may follow soon.



Formally, the yen gave a signal for rising towards the previously set target of 102.35, as it opened below the signal today - target level of 103.18, but the market fluctuation is volatile and the signal is not stable, although there is a 75% probability that it could fall.


The four-hour chart shows that the price is developing in a downward trend under the balance and MACD indicator lines, the Marlin oscillator is decreasing in the bears' area. We are waiting for the price to move down even further.


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