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USD/JPY Forecast for today, January 6, 2021

At the time of writing the forecast for the Japanese yen for today and tomorrow on 01/06/2021, the yen quotes are at around 102.8 yen per dollar.

The trend for the yen is downward. This is clearly seen on the AUD / USD chart, especially if a descending channel is plotted on it.

The resistance level is the slow red line of the Ichimoku indicator, at the level of 103. Further, a powerful resistance level will be the border of the descending channel, at around 103.5.

USD/JPY Forecast for today

The support level is the local minimum of 102.6. Further, after breaking this level - the lower border of the channel, at around 102.3.

As part of the forecast for the Japanese yen for tomorrow, January 6, we expect a correction in the downtrend, testing the resistance level. And then - an attempt to update the minimum as part of the continuation of the downtrend. Since there is no important news in the forex calendar for tomorrow, we focus only on technical analysis of forex during the day.


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