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FX.co ★ Forecast for USD/JPY on May 17, 2022

Forecast for USD/JPY on May 17, 2022

The yen strengthened by an insignificant 3 points on Monday, and in general the technical picture did not change during the day. The Marlin Oscillator is developing in the negative zone on the daily timescale, the probability of the price falling to the support at 126.95 from April 26 remains predominant against the option with growth to the trend line at 131.25.

Forecast for USD/JPY on May 17, 2022

On the H4 chart, the signal line of the Marlin Oscillator is moving along the zero neutral line. The price develops under the indicator lines, which put technical pressure on it.

Forecast for USD/JPY on May 17, 2022

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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