Forecast for USD/JPY on May 17, 2019

USD/JPY

On Thursday, the USD/JPY pair consolidated above the red line of the price channel, above the level of 109.48, closing the day with an increase of 23 points. On the four-hour chart, the current price is higher than the indicator lines of balance and MACD, the marlin oscillator in the growth zone. Perhaps the fully rising trend of the four-hour timeframe will help the price in forming growth signals on the daily chart. The first such sign will be the transition of the signal line of the marlin oscillator to a zone of positive numbers. Approximately, this can occur at the moment when the price rises in the triangle of lines of the ascending and descending channels. The average price mark of this triangle is 110.27. Further, a more confident growth to the MACD line of the daily chart in the 111.10 area is possible.

0lvX6oQXzYiOfAsr4PqFdEXQF2YsFpAwzYS8_qdq

yJStt_vdJO60xJyZQRPxr3ONNEHpL9vweGZN5V04

The material has been provided by InstaForex Company - www.instaforex.com