Forecast for USD/JPY on June 3, 2021

USD/JPY

The US dollar gained only 7 points against the yen yesterday, but the maximum growth was 43 points with an attempt to reach the MACD line in the daytime.

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The price did not reach the MACD line, there could be a second attempt today, because the US is publishing data on new jobs in the private sector from ADP for May, the forecast is good: 675,000. The US data on unemployment will be released tomorrow, a decline is predicted from 6.1% to 5.9%, which may lead to a strong rise in the price after its long stagnation in the ranges of uncertainty. The target of 110.47 is the intersection point of the two price channel lines.

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The price is moving above the balance indicator line on the four-hour chart. This line helps the price not to fall in anticipation of the transition of the Marlin oscillator to the zone of positive values.

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

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