FX.co ★ Forecast for USD/JPY on October 18, 2019

USD/JPY

On Thursday, the price worked out the resistance of the red price channel exactly and now, with the support of technical indicators, it is heading down. On the daily chart, the emerging divergence across Marlin has formed; the underlying trend lines are now the targets. The nearest of them is in the area of 108.05, below it 107.36.

On the four-hour chart, divergence has also been developed, now the signal line is deepening into negative territory. The nearest target at 108.05 on this chart coincides with the support of the MACD line. Consolidation below it opens the second target 107.36.