empty
 
 
07.12.2020 04:45 AM
Forecast for USD/JPY on December 7, 2020

USD/JPY

Last Friday, the US dollar against the Japanese yen slightly recovered losses upon a strong fall on Thursday. This morning, the Marlin oscillator on the daily chart gives a hint about the completion of this correction by turning down from the border with the growth territory (arrow). With the highest probability, the price will continue to decline to the previously defined target of 103.18 (November 6 low).

This image is no longer relevant

The four-hour chart shows that the price growth was stopped by the balance and MACD indicator lines. The Marlin oscillator remained in the negative zone. We are anticipating the strengthening of the reversal and further decline of the pair.

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 $9000 more!
    In May we raffle $9000 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