Forecast for USD/JPY on December 16, 2020

USD/JPY

The Japanese yen did not confuse the markets, like the Australian dollar did and, as expected, moved to the nearest target of 103.18 - to the low of November 6. The Marlin oscillator is in no hurry to go into the oversold zone on the daily scale chart, which is a sign of the price successfully breaking through the first target and dropping to the second at 102.35.

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The four-hour chart shows that the price is moving under the balance indicator lines and MACD, while the Marlin oscillator is also slowly but surely deepening into the zone of a downward trend.

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