Forecast for USD/JPY on March 16, 2021

USD/JPY

Yesterday, the dollar gained only 11 points against the yen, but this was enough for it to open at the upper border of the price channel today and so it can rise by a few more points in the Asian session. Now the descending price channel, which began in June 2015, has been abolished. We are waiting for the price to rise to the embedded line of the growing price channel, to the area of the 110.35 mark.

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The four-hour chart shows that the price is slightly settling at the target level of 109.18 with the horizontal movement of the Marlin oscillator. We look forward to the price rising towards the designated goal.

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

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