Forecast for USD/JPY on Feb 17, 2020



On Thursday and Friday last week, the price failed to gain a foothold over the important level of 110.00, which is formed by the point of intersection of the MACD line and the line of the price channel on the daily chart. The signal line of the Marlin oscillator remains in the growing trend zone, which still retains hope for the pair to grow. The task of USD/JPY, as before, is to consolidate above 110.00. In this case, growth is possible to 110.26, and after overcoming this level it will be possible to consider further growth in the range of 110.83/98.

On the four-hour chart, the hope for growth is maintained by price development above the MACD indicator line (blue moving), consolidating the price below it, that is under 109.57, will inspire the bears, their goal is big – 107.93 – support the trend line of the green price channel. The Marlin oscillator is already in the negative zone. Within two days, the yen will finally decide on the choice of direction.


The material has been provided by InstaForex Company –

Source:: Forecast for USD/JPY on February 17, 2020

Won't your trader friends like this?
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply