empty
 
 
23.08.2019 06:02 AM
Forecast for USD / JPY pair on August 23, 2019

USD / JPY pair

On the daily chart, the dollar against the yen continues to be held above the price channel line. The price is slowly approaching the top of the range at 106.71 formed by the highs of August 19 and 20, overcoming it will create the first impulse of growth to the MACD line at the price of 107.14. Fixation on the MACD line opens the way for growth to the nested price channel line to the area of 108.48.

This image is no longer relevant

On the four-hour chart, the price continues to be held by the line of balance. The signal line of the Marlin oscillator is preparing to go into the growth zone, but in this case, the leading role belongs to the price. Leaving the price below yesterday's low will start the development of a negative scenario in which the first goal is the MACD line of 105.87 on H4 chart, which coincides with the support of the trend line of the green price channel on the daily chart. Fixation below this level opens the prospect of an even deeper fall in prices to support the red price channel to the area of 104.80.

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 $8000 more!
    In March we raffle $8000 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