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27.10.202005:16 Forex Analysis & Reviews: Forecast for USD/JPY on October 27, 2020

USD/JPY

Yesterday's attempt to cross over the price channel line failed, the yen only pierced it, and it closed the day under the trend line. Today, the yen also opened the day under the price channel line. The signal line of the Marlin oscillator began to reverse downward. The intention to move down to the figure becomes more definite.

Exchange Rates 27.10.2020 analysis

The price is falling below the descending balance and MACD lines on the four-hour chart, the Marlin oscillator has invaded the bear territory this morning. If the price moves below the signal level of 104.56, it will signal a further decline to the previously determined target of 103.75.

Exchange Rates 27.10.2020 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Analytical expert
InstaForex Group © 2007-2021
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