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29.07.202105:55 Forex Analysis & Reviews: Forecast for USD/JPY on July 29, 2021

USD/JPY

Yesterday's attempt to rise against the yen was stopped by the balance indicator line on the daily scale, which coincided with the release of the FOMC Fed and the speech of its chairman Jerome Powell. This morning, the dollar's decline has already overshadowed yesterday's growth. The price went below the target level of 109.80, and now the 109.20 target is open. The Marlin Oscillator is declining in the negative zone.

Exchange Rates 29.07.2021 analysis

The price reversal occurred simultaneously with the reversal of the Marlin oscillator from the border of the growth area on the four-hour chart. The price returned to the area below the MACD indicator line, we will make two consecutive false breakouts of this line - on the 27th down and yesterday up. This is a sign of a strong price movement soon. So far, the conditions for such a downward movement remain.

Exchange Rates 29.07.2021 analysis

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2021
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