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28.12.201808:45 Forex Analysis & Reviews: Forecast for USD/JPY for December 28, 2018

Long-term review

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USD/JPY

Despite the recovery of the US stock market (even if it is still unstable), the yen could not withstand the pressures of Japanese economic statistics this morning and turned down from the key level of 111.40, the overcoming of which would be a condition for growth by 112.30. The unemployment rate increased from 2.4% to 2.5%, industrial production in November fell by 1.1%, retail sales slowed from 3.6% y/y to 1.4% y/y Japan's Nikkei 225 loses in the Asian session of 0.84%.

On the four-hour chart, the price turned down from the balance line. The transition of the Marlin oscillator to the negative zone will allow the price to develop a downward movement in the range of 109.38/79 (lows June 25 and August 21).

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