Forecast for USD/JPY on February 22, 2021


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.


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.


The material has been provided by InstaForex Company -