Forecast for USD/JPY on Jan 2, 2020

Posted On 02 Jan 2020

USD/JPY

The Japanese yen sharply increased its strengthening during the final two days of December, having fixed itself under the indicator lines of balance and MACDon the daily chart. The signal line of the Marlin oscillator went down from its own two-month range. The immediate goal of 108.22 is the line of the red downward price channel. Overcoming support opens the second target of 107.67 on the green price channel line. Further, a decrease to 107.34 is possible.

On the four-hour chart, the situation is completely downward, the local reversal of the signal line of the leading Marlin oscillator in the observed situation is led.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Forecast for USD/JPY on January 2, 2020

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