Forecast for USD/JPY on August 27, 2020

USD/JPY

The dollar-yen pair rebounded off the MACD line on the daily chart, slightly falling short of the downward line of the price channel, which is the main target. Now it is at the 106.65 level. The Marlin oscillator of the daily timeframe remains in the growth zone and this keeps the chance of reaching the target level until the end of the week. The deadline is on Monday.

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The price reverses from the balance indicator line on the four-hour chart. The Marlin oscillator, whose signal line turns from the border with the decline zone, helps to reverse the upward trend. The zero line of the indicator is an independent level of support and resistance. The price leaving the MACD line above the 106.35 level confirms the intention to keep the price growing.

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