USD/JPY

Optimism on stock markets is waning. The Dow Jones index still managed to grow by 0.90%, but the S&P 500 fell by 0.14%, the Nasdaq by -1.37%. On the one hand, investors were simply shifting from high-tech stocks to undervalued ones, on the other hand, optimism diminished with information that Pfizer’s vaccine can only be stored at very low temperatures (-70 C) and not so much protects against viral infection as reduces the severity of the disease.

analytics5fab65882a753.jpg

The USD/JPY pair lost only 9 points, but it is already down 15 points this morning. Of course, such dynamics is not an indicator of reversal sentiment, but the main thing here is that the price went under the balance and MACD indicator lines on the daily chart. This is the first sign of a change in mood. It will confirm that the price moves below the embedded line of the price channel at the 104.75 level. Then the first target will be the 104.05 level, then 103.18. The price moving beyond yesterday’s high will contribute to the pair’s growth to 106.06.

analytics5fab658b3140a.jpg

The situation is completely upward on the four-hour chart. A certain triangle is formed, afterwards the price is likely to accelerate to one side. Leaving the triangle may turn out to be false, which further increases the uncertainty of the current moment. The probability of a downside scenario is, however, 55%.

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

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.