Forecast for USD/JPY on August 3, 2021

USD/JPY

Yesterday, the Japanese yen reached the entire range of target levels 109.20/80, and this morning, it shows the intention to go beyond 109.20 and continue strengthening against the dollar. The pair is aiming for 108.35 - the lows of May 7 and 11. The Marlin Oscillator is declining.

The signal line of the Marlin Oscillator has formed a new continuous wedge on the four-hour char, the exit from which is most likely to go down. After consolidating under 109.20, the price may continue to decline towards the specified target.

The material has been provided by InstaForex Company - www.instaforex.com

from RobotFX