Forecast for USD/JPY on August 26, 2020

USD/JPY

The USD/JPY pair finally rallied, amid yesterday's mixed closing of stock indices, and grew by 42 points with a clear intention to attack the first target along the embedded line of the price channel at 106.68. The Marlin oscillator is growing on the daily chart. The S&P 500 stock index rose 0.36%, while the Dow Jones fell 0.21%. The Japanese Nikkei 225 index lost 0.10% today in the Asian session. Meanwhile, the growth of European stock exchanges will bring back optimism to the yen. So, the nearest target is 106.68, breaking it opens the second target at 107.00.

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The price has settled above the MACD indicator line on the four-hour chart, the Marlin oscillator is in the growth zone, we are waiting for the pair to continue rising.

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