USD/JPY

The USD/JPY pair fell by 15 points yesterday, and lost another 20 in the Asian session today. But this decline is associated with the general weakening of the US dollar caused by a sharp departure to risky instruments due to the explosive growth in the cryptocurrency market. However, it is for this reason that we are waiting for the pair to turn up, since the yen is a safe haven currency and during periods of growing interest in risk, it weakens against the dollar. The market needs some time to stabilize. When the price goes over the price channel line near the 105.36 mark, it will go again to the target range of 106.50/65.

analytics6021fb0246823.jpg

On the four-hour chart, the fully worked-out divergence of the price with the Marlin oscillator is visible. The price is currently breaking under the MACD line and trying to get under the first correction range marked in gray (consolidation on February 2-4). With the exit below this consolidation, the price will move to the next one, with support at 104.62. Here, we can expect the price to turn up. But if this level is overcome, the price will continue to decline to the price channel line in the area of 104.02. We are waiting for developments, the situation today is not trading.

analytics6021fb1c96f2c.jpg

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.