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31.01.202505:01 Forex Analysis & Reviews: Forecast for USD/JPY on January 31, 2025

Relevancia 21:00 UTC--5

The yen is gradually moving towards the lower boundary of its green price channel, targeting a level of 147.22. The initial target range is between 151.30 and 151.92, which corresponds to the lows recorded on November 6 and July 25, 2024. Meanwhile, the Marlin oscillator has consolidated in the downward trend territory.

Exchange Rates 31.01.2025 analysis

Today, Japan released strong economic data: industrial production in December rose by 0.3%, surpassing the forecast of -0.1%. Additionally, the unemployment rate decreased from 2.5% to 2.4%, and retail sales increased from 2.8% year-on-year to 3.7% year-on-year, exceeding the forecast of 3.4%.

Exchange Rates 31.01.2025 analysis

On the four-hour chart, the price consolidated below the MACD line and the 154.56 level. We anticipate that the USD/JPY pair will continue to decline, indicating a further strengthening of the yen.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2025
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