Forecast for USD / JPY pair on September 12, 2019

USD / JPY pair

After the USD/JPY pair has exceeded the green line of the price channel and the indicator line of balance on the daily chart, the price has steadily and systematically continued to grow towards the upper targets. The first of which is the price channel line at the price of 108.40. Taking into account the pace of growth, every day the price adds 30 points. The first goal can be broken and the correction is more likely from the second goal of 109.22 from the next line of the price channel. It can also be from the resistance of the green ascending price channel at 109.56 considering that the growth since August 28 began from the support of the green channel itself.

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On a four-hour chart, with a sharp rise in price, the Marlin oscillator is in no hurry to infiltrate the overbought zone and lose strength there, which also gives a reserve for the further growth of the pair.

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