empty
 
 
06.07.2020 04:34 AM
Forecast for USD/JPY on July 6, 2020

USD/JPY

The USD/JPY pair gave a clear signal for growth today in the Asian session. After the price consolidated under the balance on the daily scale chart for two days, the price surged when other indicators confirmed the growth.

This image is no longer relevant

This is the exit of the Marlin oscillator into the growing trend zone - above the zero line, and the transition of the horizontal MACD line, which it has been in for the last two days, into a growing trend. The nearest growth target is 108.38. Then to 108.95. A decrease in the price below 107.08 (this is an alternative option) will turn the price into a medium-term decline.

This image is no longer relevant

The price is rising above the red balance indicator line on the four-hour chart – the balance has shifted to a preferential growth, the Marlin oscillator has invaded the territory of the bulls. We are waiting for the USD/JPY pair to grow further.

Indexes are showing healthy growth on the stock market: Nikkei 225 1.45%, China A50 2.42%, Kospi SEU 1.20%, which convey optimism to the USD/JPY pair.

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 $1000 more!
    In April we raffle $1000 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