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30.09.202005:27 Forex Analysis & Reviews: Forecast for USD/JPY on September 30, 2020

Company does not offer investment advice and the analysis performed does not guarantee results.
The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

USD/JPY

The USD/JPY pair added 17 points yesterday, this morning it stopped before the balance indicator line on the daily chart. Now the market needs to shift the upward trend, bring the price above this line, and then the task of overcoming the price channel line at 106.40 will be much easier. The Marlin oscillator is moving into the zone of positive values, which strengthens the growth scenario. The first target of the yen at 106.00 is the 100.0% Fibonacci level reinforced by the MACD indicator line.

Exchange Rates 30.09.2020 analysis

The Marlin signal line cannot break away from the neutral border line on the 4-hour chart, which does not help the price in any way before attacking the 106.00 level. Even the very probability of attacking this level is in doubt. The price is likely to continue to consolidate and gain strength before breaking out to 106.40.

Exchange Rates 30.09.2020 analysis

Laurie Bailey
Analytical expert of InstaForex
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