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Forecast for USD/JPY on October 4, 2019

USD/JPY

The USD/JPY pair could not stand the general pressure of the market on the dollar and the weakening of the stock market. Yesterday, the S&P 500 grew 0.8% after the previous two-day plunge, but this correction cannot yet be considered a market reversal. So today, Japanese investors are in no hurry to restore long positions - the Nikkei225 index is losing 0.02%. Things are very bad on the Chinese market - the Shanghai Composite has been falling steadily since September 23rd and today its losses are -0.92%. The worsening of the situation will lead to the price falling below the MACD line on the daily scale chart (106.45) and working out the movement near the price channel line in the region of 105.96. The Marlin oscillator goes deeper into the zone of negative numbers. A condition for growth is price consolidation above the green price channel line 107.27.

analytics5d96d629db829.png

On the H4 chart, the price is below all indicator lines, Marlin is in a horizontal mini-trend. In general, the situation is 60% lower.

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