Forecast for USD / JPY pair on September 30, 2019

USD / JPY pair

At the end of last week, the dollar managed to maintain growth and approached the resistance of the falling price channel line. Overcoming this resistance (108.24) opens the second target at the top line of the same declining price channel in the region of 109.09. Until the price goes beyond the nearest line of 108.24, support for the green rising channel at 107.26 can be worked out. Here, there are signs of a triangle forming within the green and red lines.

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On a four-hour chart, the price with the support of the balance line (red indicator) went above the MACD line (indicator blue) and the Marlin oscillator in the growth zone. The condition on H4 increases the chances of overcoming 108.24.

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Today's economic data for Japan showed an increase in retail sales by 2.0% y/y in August against expectations of 0.7% y/y, but the industrial production in the same month fell by 1.2% against the forecast of -0.5%. The yen remained at Friday close levels while waiting for new events.

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