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21.04.202105:39 Forex Analysis & Reviews: Forecasts for USD/JPY on April 21, 2021

USD/JPY

As a result of yesterday, the yen settled below the MACD indicator line on the daily chart. The price's intention to reach the target range of 107.35/55 has intensified.

Exchange Rates 21.04.2021 analysis

A double convergence may form on the four-hour chart, which implies that the price may continue to fall by 40-50 points. In this case, the signal line of the Marlin Oscillator will work out the support of the converging line, and the price will reach the target range. The price is likely to face a medium-term growth from this range.

Exchange Rates 21.04.2021 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Analytical expert
InstaForex Group © 2007-2021
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