Forecast for USD/JPY on October 12, 2020

USD/JPY

Unfortunately, the yen's consolidation above the MACD line and the balance line on the daily chart from last Tuesday turned out to be false. The price fell by 40 points on Friday and now it faces another, bearish target - 105.30. Overcoming it opens the second target at 105.00 - support for the embedded price channel line.

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The price settled below the MACD line on the four-hour chart. The Marlin oscillator is declining in the negative zone. The trend is downward, we are waiting for the price to reach the first target level.

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The material has been provided by InstaForex Company - www.instaforex.com
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