FX.co ★ USD/JPY Forecast for February 28, 2025

On the daily chart, the price is consolidating around the level of 149.38. If this is indeed a consolidation phase, we can expect a decline in price.

The target for this downward movement is 146.95, which aligns with the embedded price channel line on the weekly timeframe. Now, we just need to wait for the consolidation to conclude. The four-hour chart indicates that this consolidation is approaching completion, as a reversal has occurred from the MACD line.

Once the price consolidates below 149.38 and the current candlestick closes, the Marlin oscillator's signal line will also settle below the boundary of the downward trend area, signaling the start of the price decline.