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11.03.2022 06:07 AM
Forecast for USD/JPY on March 11, 2022

USD/JPY reached the target level of 116.35 this morning. If it rises further, the quote could ht

117.20. However, such growth is under constant risk of a reversal from the stock market.

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In the four-hour chart, the pair is above the MACD and indicator lines, but the Marlin oscillator is in no hurry to grow. Its movement is closer to a horizontal one, which is an early sign of a reversal, or a subsequent growth followed by a downward reversal.

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In the hourly chart, the pair is growing in a pronounced upward channel, supported by the MACD line. The Marlin oscillator, meanwhile, is moving sideways, along zero. The movement of the pair away from the MACD line (116.04) will be a signal for a trend change.

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Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
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