Forecast for USD/JPY on December 28, 2020
Today, the price is in the 23rd December range. The Marlin oscillator is turning down without leaving the downward trend zone. The nearest target is 103.18 (November 6 low), then we expect it to fall to 102.35.
The four-hour chart shows that the price is still higher than the MACD line and the balance line, but the signal line of the Marlin oscillator has come out of its own wedge downwards and is already intending to penetrate into the bears’ area. Visually, Marlin will move into the zone of negative values and the price will simultaneously be under the MACD line, which will strengthen the signal. The price needs to go down 10-15 points (103.40/46). We are waiting for such a signal.
The material has been provided by InstaForex Company – www.instaforex.com