FORECAST BY MARIUS GHISEA – USD/JPY (October 12-16)

The USD/JPY currency pair will fall in the medium long term, in order to form a geometrical shape at 118.30, where is Fibo 0.76. The MACD  on the daily chart indicates also a downtrend for this pair.

usdjpy

At this moment, the price is stuck in a tight range, according to the 8 hour chart. The USD/JPY currency pair will fall in the medium term, because the price is below EMA 100 on 8 hour chart and this is a confirmation of downtrend.

usdjpy h8

 

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