FX.co ★ Forecast for USD/JPY on October 30, 2019

USD / JPY

Yesterday, the dollar consolidated above the trend line of the red price channel (the day closed above the line), but the Marlin oscillator showed a risk of double divergence on the daily scale. For its final breakdown, the price should consolidate itself as fast as possible above the top of yesterday. In this case, the growth will continue to the nearest target with the formed line of the falling green price channel (109.77). The negative scenario suggests a decrease in prices to support the red price channel to the area of 107.92.

The situation is more positive on the four-hour chart. The price is below the MACD line, but Marlin is in the growth zone and the balance of power is on the buyer's side - the price is above the balance line - the red indicator line. A signal for further growth (and purchases) will be the price exit above yesterday's high of 109.08.