Forecast for USD/JPY on July 13, 2020

USD/JPY

The dollar lost 28 points against the yen last Friday. This was enough for the price to overcome the support of the trend line and the MACD line on the daily chart. The Marlin oscillator is declining in the negative zone. The 105.72 target on the lower line of the price channel has become relevant.

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The price settled below the level of 106.95 on the four-hour chart, which indicates the resistance of the daily-scale MACD line. And as you can see, the price of H4 is pinned under this line. The balance and MACD indicator lines are higher than the price, and the trend is decreasing. We are waiting for the price at the designated level of 105.72.

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