Forecast for USD/JPY on August 13, 2020


The US stock index recovered in an upward trend, gaining 1.40% (S&P 500) on Wednesday. It was followed by the USD/JPY pair, adding 42 points, marking the target level of 107.00 as the high of the day. Now the pair has consolidated in an upward direction - the price is above the indicator lines, the Marlin oscillator is developing in the growth zone. After overcoming the 107.00 level, we expect the price to rise to the second target of 107.35.


The trend is also upward for all indicators on the four-hour chart. The price is growing above the balance and MACD indicator lines, Marlin is slightly decreasing (correcting), but remains in the growth zone. We are waiting for the correction to be completed and a new attack of the price at the 107.00 level with a subsequent rise to 107.35.


The material has been provided by InstaForex Company -