Forecast for USD/JPY on April 27, 2020


The Japanese yen continues to trade in a narrow range under the balance and MACD indicator lines on the daily chart, but now the price is already below the line of the price channel, which slightly, but still raises the likelihood of reaching immediate support at 106.70. Overcoming support opens a more significant goal along the price channel in the area of 102.40. The signal line of the Marlin oscillator lies in the horizon inside its own wedge.


The Marlin oscillator has consolidated in the negative trend zone on the four-hour chart. As the price overcomes the signal level 107.30 (low of April 17 and 21), the movement to the first target will likely be 106.70.


The material has been provided by InstaForex Company -