24.07.202005:16 Forex Analysis & Reviews: Forecast for USD/JPY on July 24, 2020

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USD/JPY

This morning, the Japanese yen did what was expected of it for ten sessions – it went with the actual consolidation under the MACD line on the daily chart.

The Marlin oscillator also strengthened the decline, now waiting for the price to have support for the embedded line of the price channel around 105.63. Overcoming the line will allow the price to decline to the target level of 105.15.

The four-hour chart shows that the price has broken through the signal level of 106.68 since accelerating, Marlin is going down into the decreasing trend zone. We are waiting for the USD/JPY pair at the designated target.

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