Forecast for USD/JPY on December 2, 2020


The Japanese yen continues its development in the 104.05/77 uncertainty range. Yesterday, the upper limit was the price channel line on the daily chart, and the lower limit was the MACD line on the four-hour chart. In today's Asian session, growth is restrained by the balance indicator line on the daily. The signal line of the Marlin oscillator continues to move sideways within its own small range (marked with a gray rectangle).


The four-hour chart shows that Marlin is moving along the neutral border that divides the trends. This may be a sign that the price's current position above the indicator lines is unstable, it can equally easily rise to the upper border of the free roaming range and decline to the lower border of the range. We are waiting for the development of events.


The material has been provided by InstaForex Company -