empty
 
 
03.02.2020 06:04 AM
Forecast for USD/JPY on February 3, 2020

USD/JPY

The situation in the stock market is deteriorating every day. Concerns are circulating that market peaks on January 22 (3337 by S&P 500) and January 17 (29373 by Dow Jones) will not be overcome this year. The Dow Jones collapsed by 2.09% on Friday, while the Nikkei 225 lost 1.12% today in the Asian session.

This image is no longer relevant

On the daily chart, the price is falling under the lines of balance (indicator red) and MACD (indicator blue), the Marlin oscillator is falling in the zone of negative values. The price surpassed the target level of 108.50 (the September 18, 2019 high), thereby opening the new target of 107.87 - the area of intersection of two lines of price channels - a red one going down and a green one growing.

This image is no longer relevant

The price is below the indicator lines on a four-hour chart, Marlin is developing in the territory of the bears. We are waiting for the price to fall further.

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