Forecast for USD/JPY on April 30, 2020

USD/JPY

The Japanese yen did not gain a foothold under the trend line on its first attempt, opening the way to a decline to 102.40. The second attempt may occur by overcoming yesterday's low of 106.37. Specifications for the past day have not changed, the pair is under pressure.

analytics5eaa430e9f050.jpg

The price develops in the range of the MACD line on the four-hour chart, without deviating far from it. The Marlin oscillator does not leave the negative trend zone, it only unloaded before the expected decline.

analytics5eaa432164ae5.jpg

So, with the price overcoming the new signal level 106.37, it is possible to open short positions with a strategic aim at 102.40. The strongest intermediate target levels are 105.10 and 103.95.

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