08.01.202005:08 Forex Analysis & Reviews: Forecast for USD/JPY on January 8, 2020

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USD/JPY

The Japanese yen did not reach the target level of 107.68 on Monday, and grew by 20 points yesterday, and it worked out the indicated target this morning due to information about Iran's missile attack on US military bases in Iraq. Apparently, a hot conflict can no longer be avoided, the yen, as a safe haven currency, will continue to strengthen (decrease on schedule) and further. Immediate goals: 107.33, 106.30, 105.08.

On a four-hour chart, the price shows increased volatility in the Asian session, but so far it is developing under the indicator lines of balance and MACD. The Marlin signal line is wound on the boundary dividing the growth and fall zones. The observed growth can be kept by the resistance of the MACD line (108.76).

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