Forecast for USD/JPY on December 29, 2020

USD/JPY

The Japanese Yen has fallen into a horizontal trend. It is indicated by a gray rectangle on the four-hour scale chart. The range fits between the target levels of 103.18 and 104.03.

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The Marlin oscillator wedge has transformed into an inclined channel. At the moment, the oscillator line is unfolding from its upper border but for a signal a short-term fall, it is necessary to exit the channel downwards. To do this, the price should go below yesterday's low of 103.41. This is already below the Kruzenshtern line.

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On the daily chart, Marlin shows the intention to turn around from the border with the territory of growth. The trend is still in a downward direction. We are waiting for developments-- the situation is not trade.

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