empty
 
 
12.10.2018 05:13 AM
Forecast for USD / JPY pair on October 11, 2018

USD / JPY pair

On Wednesday, the Japan data came out optimistic. The volume of orders for engineering equipment increased by 2.8% in September after the August increase by 5.1%. The base index of orders for engineering products added 6.8% against the forecast of -3.9%. The yen broke away from supporting the trend line by more than 60 points, but the American stock market further collapsing crossed all hopes for growth. The S&P 500 fell by 3.29% while the Nikkei 225 is losing 4.28% today. The Chinese Shanghai Composite collapsed 4.34% in the Asian session.

On the daily chart, the price has fixed under the MACD trend line, it is possible that the balance line around 111.77 can still support the yen and the price will retest the uptrend line of the price channel at 112.66. The bearish sentiment is strong, and the signal line of the Marlin oscillator on the daily very strongly takes root in the zone of negative values. In the end, we are waiting for the price in the area on September 7 minimum at 110.39.

This image is no longer relevant

This image is no longer relevant

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback