empty
 
 
01.06.2021 06:06 AM
Forecast for USD/JPY on June 1, 2021

USD/JPY

The USD/JPY pair in the Asian session formed black daily candles both yesterday and today, the basis of which is the weakening of the dollar in the world market - the dollar index lost 0.23% yesterday. Also, stock indices in Asia and Australia are in the red today, perhaps investors are afraid of uncertainty on the US grounds after a three-day weekend.

This image is no longer relevant

In the local situation, we see no significant reasons for the fall of the markets in the US, we expect indices to rise today. This (main) scenario assumes a reversal of the USD/JPY pair from the reached level of 109.37 with a movement to the upper target of 109.97. Consolidating below the level of 109.37 on the daily scale will become a condition for a succeeding decline to 108.35.

This image is no longer relevant

The MACD indicator line is located below the level of 109.37 on the four-hour chart, therefore, consolidating under 109.37 on the daily scale also includes the settling under the MACD line, below the level of 109.25 on the H4. For now, we are focusing on price growth.

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 $9000 more!
    In May we raffle $9000 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