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06.01.202005:03 Forex Analysis & Reviews: Forecast for USD/JPY on January 6, 2020

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USD/JPY

As investors flee from risk on Friday, the yen strengthened against the dollar by 47 points. This morning the movement continued, the price approached the support of the green price channel at 107.68. Overcoming the support will allow the price to test the strength of the support of the red price channel at 107.34. A breakthrough of this support opens the target at 106.30. The Marlin oscillator is steadily falling in the negative zone.

On the four-hour chart, the Marlin signal line is correcting up. This is the working moment of the discharge of the oscillator before the further trend movement, which could resume tomorrow.

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