Forecast for USD/JPY on April 29, 2020


The long consolidation of the yen was realized at the beginning of the (expected strong) downward movement. The signal line of the Marlin oscillator went down from its own wedge. The pair's quote is currently below the price channel line and below yesterday's low, when support was only pierced by the candle's lower shadow. So, we are waiting for the decline to continue to the nearest line of the price channel of the higher timeframe at around 102.40.


The price consolidated under the MACD indicator line and below the signal level of the crossed price channel line (106.70) on the H4 chart. The Marlin oscillator is also moving down.


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