Forecast for USD/JPY on August 20, 2020

USD/JPY

The dollar's growth from yesterday was so strong that the USD/JPY pair rose by 70 points even against the fall in the stock market. The dollar index added 0.78%. The Marlin oscillator has entered the growing trend zone. Thus, the nearest target for the dollar is the embedded price channel line at the 106.70 level. The MACD line will be overcome.

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The price paused at the resistance of the MACD line on the four-hour chart. The Marlin oscillator has also moved into a growing trend zone. The price leaving the area above the MACD line, above the 106.18 level, opens the first target to 106.70.

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