empty
 
 
13.05.2021 05:22 AM
Forecast for USD/JPY on May 13, 2021

USD/JPY

The USD/JPY pair is probably experiencing happiness - the dollar's growth in the broad market from yesterday made it possible for it to rise by 105 points, overcoming the resistance of both indicator lines - the balance line (red) and MACD (blue). The balance line indicates the conditional market interest, the MACD line indicates the strength and direction of the trend. The USD/JPY pair is now in an upward trend. Also, the Marlin oscillator has entered the zone of positive values. The target is 110.44, followed by 110.62 - the line of the descending global price channel, even higher than 111.39 - the October 2018 low.

This image is no longer relevant

The price also settled above the indicator lines on the four-hour chart, while Marlin is in the growth zone. The April 9 high at 109.97 is an intermediate price resistance on the way to 110.44, and there may be a slight correction from it.

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 $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