Forecast for USD/JPY on June 12, 2020

USD/JPY

The USD/JPY pair was able to gain a foothold under the MACD indicator line on the daily chart. The price entered the difficult range defined by two embedded lines of the price channel at 105.95-107.22. A corrective consolidation is possible within the range. But for now we are waiting for a fall to the lower limit of the range in the region of 105.95. The Marlin oscillator is going down in the declining trend zone.

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The oscillator signal line is moving up on the four-hour chart, which indicates that the price fall will likely slowdown.

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