empty
 
 
07.12.2022 05:18 AM
Forecast for USD/JPY on December 7, 2022

The USD/JPY pair continues to develop the correction of the last two days. Yesterday, faced with the nearest resistance of the embedded line of the price channel of the higher chart (137.00), the price only grew by 28 pips.

This image is no longer relevant

The price and the Marlin oscillator have formed a convergence, the pair may rise further. The nearest target is the line at 138.65. If it penetrates this level, the price might go up to 140.05. A little above this second target is the level of 140.35, which is the low of September 22. Maybe, the price will try to reach it as well.

This image is no longer relevant

On the four-hour chart, the price went above the MACD line, even with a slight consolidation. The Marlin oscillator is in the positive area. The short-term trend is increasing, we wait for the price to reach the nearest level at 138.65.

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