empty
 
 
01.07.2020 04:44 AM
Forecast for USD/JPY on July 1, 2020

USD/JPY

The dollar grew by 34 points against the yen on Tuesday, this morning the price grew by 25 points in the moment, the pair reached its first bullish target at 108.10 and sharply turned down. If this is a real reversal, then we can see the price on the support line of the price channel in the region of 105.78. The first sign of such a downward movement will be price taking at 107.77, after which it will become possible to decline to the first target of 107.10 - to the nearest line of the price channel of the monthly timeframe.

This image is no longer relevant

The signal line of the Marlin oscillator is still in the positive area on the four-hour chart, which, of course, does not create a reliable condition for pulling down the price, respectively, for opening the short position early on. It is advisable to wait for the price to go below yesterday's low of 107.53. In this case, the price could fall to the MACD line at 107.00, which is close to the target on the daily chart of 107.10. Price taking below 107.10 opens the way to 105.78.

This image is no longer relevant

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback