Forex Analysis & Reviews: Forecast for USD/JPY on December 9, 2021

Yesterday the Japanese yen traded in a range of 65 points, but the day was closed with a white candle and settling above the daily MACD line (blue sliding line) was confirmed.

The Marlin Oscillator is approaching the border with the growth territory. This is a sign that the signal level of 113.96 (yesterday's high) is technically increasing its value - crossing and settling on it can be synchronized in time with the oscillator's transition to the positive area, which will strengthen the upward potential. The target for growth is the 115.80-116.15 range. Returning under the price channel line (113.21) will provoke an attack on the bearish signal level of 112.54, the crossing of which, in turn, will direct the price to the lower line of the price channel of 110.77.

On the four-hour scale chart, the price settled above the MACD indicator line, the Marlin Oscillator is in a sideways local trend, but in the zone of positive values. The probability of further growth is 70%.

Analysis are provided by InstaForex