Forecast for USD/JPY on February 19, 2019


The Japanese yen quickly completed the technical divergence of the marlin oscillator on a four-hour schedule from February 14 to 15. The stop occurred on the Krusenstern line. Now, if the signal line of the oscillator goes to the zone of positive numbers, the divergence can be considered completed. Visually, such a transition of the oscillator is possible when the price rises above yesterday's high of 110.67. In this case, we expect growth to the resistance of the price channel line at the level of 111.20. Consolidation above the level opens a spacious growth to 113.15.

If, however, the price goes down and consolidates below the Krusenstern line on H4 (110.34), then the target range 109.65-110.00 will become relevant. But in terms of its quality, the specified range is more likely not related to the target range, but to the support range. The difference in quality will subsequently affect the future price behavior - from it the price can increase sharply.


The material has been provided by InstaForex Company -