empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

01.12.202206:00 Forex Analysis & Reviews: Forecast for USD/JPY on December 1, 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.

The yen continues to move according to our main scenario. Yesterday, the price almost touched one of the embedded price channel lines and fell sharply, closing the day at 138.65. In today's Asian session, the price crossed the support at 137.00 and now it intends to go lower, to the target level of 135.23. I am waiting for the price convergence with the Marlin oscillator (the dashed line on the chart).

Exchange Rates 01.12.2022 analysis

The price may also cross 135.23 and there might not be a convergence, but that would require a collapse in the stock market. Surely it can happen, but so far there are no clear technical conditions for that. So let us not get ahead of the situation and just wait for the USD/JPY to test 135.23.

Exchange Rates 01.12.2022 analysis

On the four-hour chart, the price has not yet settled below 137.00. There could be a convergence with the Marlin oscillator. Or it may not happen (if the pair falls according to the main scenario), but it might settle before the release of tomorrow's US employment report.

Laurie Bailey
Analytical expert of InstaForex
© 2007-2024

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.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off