For Traders

Analytical Reviews

Technical analysis

10.01.202205:31 Forex Analysis & Reviews: Forecast for USD/JPY on January 10, 2022

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.

With investors leaving the risk (S&P 500 -0.41%), the Japanese yen strengthened by 0.25% on Friday. The dollar is slightly recovering this morning. In order to develop growth, the price needs to overcome the technical level of 116.15. After that, the 117.12 target will open - the price channel line of the monthly chart. The plan for growth is supported by the MACD indicator line - 114.95. If the price overcomes this support, the plan will change to a descending one, to the nearest target at 113.28 - to the lower line of the price channel.

On the four-hour chart, the price is below the MACD indicator line and the Marlin Oscillator is in the negative area. If the price fails to settle above the MACD line, above 115.85, then a downward trend will develop, an attempt to overcome the support at 114.95. Consolidating above 115.85 will develop a price attack on the important technical level of 116.15.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.