Forecast for USD/JPY on May 1, 2019


Yesterday, the market was highly active – trading volumes were above average, the dollar succumbed to weakening, and the yen itself experienced even greater difficulties. Nevertheless, the support of the indicator line of the daily chart balance was strong enough to keep the currency pair from further falling. On the four-hour chart, technical convergence was formed, the price reversal followed by a touch of the MACD line on H4, coinciding with the maximum on March 15 and April 29, is very possible (111.91). If successful, the price goes above this level and we expect the price to continue to rise to the upper limit of the price channel 112.60.



The material has been provided by InstaForex Company -