Forecast for USD/JPY on July 16, 2021

USD/JPY

Stock markets closed lower on Thursday, the dollar index rose, investors slowly continued to withdraw from the risk and the USD/JPY pair fell by 12 points. This is not much, so we are waiting for the continuation. The price was delayed by the intersection point of the target level of 109.80 with the lower border of the price channel on the daily chart.

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The price might surpass this support today, since the signal line of the Marlin oscillator is directed down. The price will continue to move towards the target level of 109.20.

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The price settled under the balance indicator line on the four-hour chart, the Marlin oscillator is developing in the declining trend area. We are waiting for the price to settle below the level of 109.80 and a succeeding downward movement.

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

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