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12.10.202005:51 Forex Analysis & Reviews: Forecast for USD/JPY on October 12, 2020

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.

USD/JPY

Unfortunately, the yen's consolidation above the MACD line and the balance line on the daily chart from last Tuesday turned out to be false. The price fell by 40 points on Friday and now it faces another, bearish target - 105.30. Overcoming it opens the second target at 105.00 - support for the embedded price channel line.

Exchange Rates 12.10.2020 analysis

The price settled below the MACD line on the four-hour chart. The Marlin oscillator is declining in the negative zone. The trend is downward, we are waiting for the price to reach the first target level.

Exchange Rates 12.10.2020 analysis

Laurie Bailey
Analytical expert of InstaForex
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