empty
 
 
11.05.2023 05:30 AM
Forecast for USD/JPY on May 11, 2023

USD/JPY

After the price reached the target level of 135.40 on Wednesday, it returned below the price channel line (134.50). The target on the MACD indicator line is 133.03.

This image is no longer relevant

The Marlin oscillator approached the zero line and presents two different interpretations: either the oscillator's signal line will reverse from this zero boundary and pull the quote above 134.50 for a repeated attack on the 135.40 level, or the Marlin will move to negative territory and help the price reach the MACD line (133.03).

This image is no longer relevant

On the four-hour chart, the price has consolidated below 134.50 and below the indicator lines; the Marlin oscillator has returned to negative territory. All these circumstances maintain the downtrend and the main scenario of achieving the target of 133.03.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback