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Forecast for USD/JPY on Feb 27, 2020
USD/JPY
The Japanese yen has been trying for two days to recover from a fall since February 21, but it seems to have no strength. The price is still held by two supports at once – the MACD indicator line and the green price channel trend line, but the Marlin oscillator is in a hurry to penetrate into negative territory, which, when the price goes down to technical levels, will increase the fall of the USD/JPY pair.
The purpose of the movement is the area of intersection of the trend lines of two price channels – green rising and red falling, this is the area 108.00.
On a four-hour chart, the price is consolidating under the indicator lines of balance and MACD, the lines themselves are turning down. Marlin is in the decline zone. We are waiting for the price at the designated target of 108.00.
The material has been provided by InstaForex Company – www.instaforex.com
