Forecast for USD/JPY on December 17, 2020

USD/JPY

The yen continues its planned movement to the nearest target level of 103.18 – to the minimum of November 6. Pinning below it opens the second target 102.35.

analytics5fdac9399ddb0.jpg

On the four-hour chart, yesterday's surge in the price at the announcement of the results of the Fed meeting reached exactly the MACD line, from which, as from the current resistance, it quickly changed to a fall. As the decline continues, we are awaiting the price at the second target level of 102.35 with a probability of 70%.

analytics5fdac946e835d.jpg

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