Forecast for USD/JPY on January 10, 2019


The yen is falling the second day amid a weakening dollar. The stock market is growing (S&P 500 0.41%), but the currency sentiment in the current situation is stronger. On the four-hour chart, the price drops below the balance and Krusenstern lines, the signal line of the marlin oscillator is in the negative zone. Target levels of "bears" are conveniently determined in this situation by the levels of correction from the growth from January 3: 107.34 (38,2%), 106.80 (50,0%), 106.24 (61,8%). It is possible to return to the rising scenario only when the price overcomes the resistance of the Krusenstern line on H4. In the current situation, this level is 108.50.



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