Forecast for USD/JPY on August 25, 2020

USD/JPY

The Japanese yen is making great efforts to maintain its strategic weakness, then it plans to rise on the USD/JPY chart. The price added 18 points yesterday. The signal line of the Marlin oscillator has penetrated the growth zone on the daily chart. The 106.68 target along the embedded price channel line slightly became easier to reach since it was also closer.

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The price settled above the balance line on the four-hour chart - market sentiment tends to lean on buying more. The Marlin oscillator is moving more and more into the growth zone. The price still needs to overcome the resistance of the MACD line at 106.25, and in this case the 106.68 target will become more tangible.

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