empty
 
 
07.12.2021 05:01 AM
Forecast for USD/JPY on December 7, 2021

With the last bit of strength, the USD/JPY pair fulfilled its dream - it went above the resistance of the price channel line of the higher timeframe and above the MACD indicator line of the daily scale.

This image is no longer relevant

The growth continues in today's Asian session, the Marlin Oscillator is rising, trying to get out of the downward trend zone. Probably, with the price consolidating above the level of 113.85, Marlin will be in the positive area, which makes further growth to the range of 115.80-116.15 unhindered.

This image is no longer relevant

Things are not so smooth on the four-hour chart. The main obstacle to growth is the MACD line, in the area of the 113.85 level. Consolidating above it gives a chance for developing growth. The Marlin Oscillator has consolidated in the positive zone, with more important action remaining. Failure can bring the price back to 112.54, and overcoming this level will reverse the movement to a fall to 110.77 - to the price channel line (daily).

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 $1000 more!
    In April we raffle $1000 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