Forecast for USD/JPY on September 30, 2020

USD/JPY

The USD/JPY pair added 17 points yesterday, this morning it stopped before the balance indicator line on the daily chart. Now the market needs to shift the upward trend, bring the price above this line, and then the task of overcoming the price channel line at 106.40 will be much easier. The Marlin oscillator is moving into the zone of positive values, which strengthens the growth scenario. The first target of the yen at 106.00 is the 100.0% Fibonacci level reinforced by the MACD indicator line.

analytics5f73ffa0a5521.jpg

The Marlin signal line cannot break away from the neutral border line on the 4-hour chart, which does not help the price in any way before attacking the 106.00 level. Even the very probability of attacking this level is in doubt. The price is likely to continue to consolidate and gain strength before breaking out to 106.40.

analytics5f73ffa3e20f3.jpg

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