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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.

Exchange Rates 23.08.2019 analysis

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.

Exchange Rates 23.08.2019 analysis

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

Performed by Laurie Bailey,
Analytical expert
InstaForex Group © 2007-2019
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