Main Quotes Calendar Forum
flag

FX.co ★ Forecast for USD/JPY on May 9, 2022

parent
Forex Analysis:::2022-05-09T03:43:49

Forecast for USD/JPY on May 9, 2022

The USD/JPY pair gained 37 points on Friday, almost the same this morning, and is now preparing to fight the embedded price channel line around 131.12. If successful, the second target will open on the second line of the price channel at 132.40.

Forecast for USD/JPY on May 9, 2022

The Marlin Oscillator requires special consideration. It has been declining for a long time in its own descending channel against the price growth, which creates doubts about the price's ability to continue sharply rising. There are two options: the signal line of the oscillator reaches the upper border of the channel, a divergence is formed with the price, followed by a reversal into a deep correction (126.95, 125.11); exit of the signal line from the channel upwards with continued price growth, for example, to the level of 135.20 - to the January 2002 high. But there is a third option, a bearish one - the signal line of the oscillator exits under the lower border of the channel with a price reversal from 131.12 or a little higher.

Forecast for USD/JPY on May 9, 2022

The price is growing above the indicator lines on the four-hour chart, Marlin is also growing in the positive area. We are waiting for the development of the situation according to the main rising scenarios.

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...