01.05.201906:27 Forex Analysis & Reviews: Forecast for USD/JPY on May 1, 2019

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

USD/JPY

Yesterday, the market was highly active – trading volumes were above average, the dollar succumbed to weakening, and the yen itself experienced even greater difficulties. Nevertheless, the support of the indicator line of the daily chart balance was strong enough to keep the currency pair from further falling. On the four-hour chart, technical convergence was formed, the price reversal followed by a touch of the MACD line on H4, coinciding with the maximum on March 15 and April 29, is very possible (111.91). If successful, the price goes above this level and we expect the price to continue to rise to the upper limit of the price channel 112.60.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.