12.07.201906:36 Forex Analysis & Reviews: Forecast for USD / JPY pair on July 12, 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 pair

The dollar fell by 100 pips from the embedded line of the price channel to the lows of June 3-7 (107.87), which occurred after Jerome Powell's speech in the House of Representatives did not bypass the yen. On a daily scale, the price is now struggling with resistance by the indicator balance line.

Yesterday, the price rebounded from the support of 107.87 which is currently fixed above the MACD line on the four-hour chart. Also on H4, the Marlin oscillator signal line is fighting for the opportunity to be on the growth territory.

The general trend has recovered to an increase and we are waiting for the price in the range of 109.00/13, which was formed by the peaks of July 9-10 and the MACD line on the daily. Going out of the range opens the nearest target to 109.80.

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.