Forecast for USD/JPY on August 14, 2020

USD/JPY

The dollar-yen currency pair completed an important task yesterday - it consolidated with the body of a candle above the balance and MACD lines, and the downward trend of the price channel. The price is trying to push through the resistance of the 107.00 target level this morning. Success will make it possible for the price to rise to 107.35, then 107.90.

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The price is also above both indicator lines on the four-hour chart. The Marlin oscillator has fallen into the horizon, but is kept in the positive (growing) trend zone. We are waiting for the price to rise to the designated goals.

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