FX.co ★ Forecast for USD/JPY on June 12, 2020

USD/JPY

The USD/JPY pair was able to gain a foothold under the MACD indicator line on the daily chart. The price entered the difficult range defined by two embedded lines of the price channel at 105.95-107.22. A corrective consolidation is possible within the range. But for now we are waiting for a fall to the lower limit of the range in the region of 105.95. The Marlin oscillator is going down in the declining trend zone.

The oscillator signal line is moving up on the four-hour chart, which indicates that the price fall will likely slowdown.