Forecast for USD/JPY on August 30, 2021

USD/JPY

The dollar-yen pair pierces the MACD indicator line with the upper shadow for the second day in a row, after which it collapses under it. The Marlin Oscillator is turning down, not breaking away from the border that separates the growth zone from the fall zone. This is a sign that the sideways movement in the structure of the wide-range one-and-a-half-month walk will still continue.

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Consolidating below the level of 109.85 on the daily chart may indicate the price's intention to once again mark at the target level of 109.20. Settling above the MACD line will bring back the opportunity to reach 110.62. So today is definitely not a trading day.

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The price settled below the MACD indicator line on the four-hour chart, the Marlin oscillator is in the negative trend zone, and this is the first sign of a more likely price fall, but we need to wait for the price to settle on the daily scale, since the movement is sideways and false signals are created on H4.

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

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