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01.12.202105:56 Forex Analysis & Reviews: Forecast for USD/JPY on December 1, 2021

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

As a result of yesterday, the USD/JPY pair dropped 39 points, piercing the support of the MACD indicator line and the price channel line with a lower shadow, that is, having made a false movement. This morning the price is going up. The growth target is the 114.31/46 price range, limited by the peaks on November 4 and November 1. The Marlin Oscillator is weak, but it still has an opportunity to rise today. If Marlin remains in a depressed state, then reaching the specified goal may be questionable.

Exchange Rates 01.12.2021 analysis

On the 4-hour chart, the price and the Marlin Oscillator have formed convergence. This circumstance still increases the likelihood of growth to 65%. We also note that the target range coincides with the MACD line at this price scale, therefore, in this area, the price may reverse downward, or, after overcoming it, further growth to the target range of 115.80-116.15.

Exchange Rates 01.12.2021 analysis

Laurie Bailey
Analytical expert of InstaForex
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