Forecast for USD/JPY on February 22, 2021

USD/JPY

The USD/JPY pair's decline from last Friday stopped at the support of the price channel line. The price is steadily growing in today's Asian session. A small divergence with the Marlin oscillator, with the highest degree of probability, has been worked out, now the price is heading to the target range of 106.50/65.

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The price went above the MACD line on the four-hour timescale, respectively, the previous plunge under it was false, and this opens up the prospect of a significant price growth. The Marlin oscillator is still in the negative zone, but we believe it will soon enter the growth zone and strengthen the growing trend.

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

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