empty
 
 
24.09.2020 05:11 AM
Forecast for USD/JPY on September 24, 2020

USD/JPY

The Japanese yen broke through the price channel line and reached the intermediate Fibonacci level of 110.0% on Wednesday. The powerful convergence of the price and the Marlin oscillator continues to work, now the yen is aiming for the Fibonacci level of 106.00, or slightly higher, where the MACD line passes. But the main goal of the USD/JPY pair is the upper line of the price channel (also embedded) around the area of the 106.40 level, since overcoming it will guarantee a medium-term price growth (targets 107.35, 108.20 and higher).

This image is no longer relevant

The four-hour chart shows that the price has firmly settled in the area above the balance and MACD indicator lines. The signal line of the Marlin oscillator falls into the horizon, which may be a harbinger of a local price decline in the 105.00/15 range, formed by support of the MACD line (H4) and the price channel line (daily).

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 $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