FX.co ★ Forecast for USD/JPY on October 8, 2019

USD/JPY

After the price reversal from the support of the MACD line on the daily chart on October 3rd, the dollar continued its successful climb, overcoming the resistance of the green ascending price channel. Overcoming the top of yesterday's price will be a signal to continue growth to the first goal of 108.12. Exit above the resistance opens the second target at 108.95. The signal line of the Marlin oscillator is still in the zone of negative numbers, but with the price overcoming the high of Monday, Marlin will enter the growth zone.

On a four-hour scale, the price is struggling with the MACD line, but here, going above the key level (October 7 high) will solve this struggle in favor of the price.

The negative scenario, having a 25% probability, suggests another price reduction to support the MACD line on the daily chart (106.50).