Forecast for USD/JPY on December 5, 2019

By | December 5, 2019
InstaForex
Forecast for USD/JPY on December 5, 2019

Relevance up to 19:00 2019-12-05 UTC–8

USD/JPY

The information received yesterday from the headquarters of the US and Chinese negotiators on trade encouraged the markets – representatives of the parties allowed the conclusion of the first phase of the deal until December 15, before the date of the introduction of tariffs on Chinese goods. The US S&P 500 index gained 0.63%, Nikkei 225 is currently up 0.70% and China A50 grew 0.36%. The price turned from the achieved first bearish goal – from the enclosed line of the price channel, a little short of the MACD line. The signal line of the Marlin oscillator is still in the negative trend zone, growth could continue, but still within the correction.

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The correction can continue to the range of 109.30/50 (highs of October 30 and November 7), going over the range will mean the correction will go into a trend growth, the target will be the line of the green price channel in the region of 109.95. Leaving prices at yesterday’s low opens the next bearish target at 107.57 – the intersection of the lines of the red and green price channels.

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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Laurie Bailey,
Analytical expert
InstaForex Group © 2007-2019

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