Forecast for USD/JPY on March 15, 2021


Last Friday, the USD/JPY pair's quotes reached the upper border of the price channel for the second time, which began in June 2015; the price did it for the third time this morning. The dollar is just waiting for its competitors to weaken on the European grounds, in order to continue rising towards the target level of 110.35 - to the embedded line of the now growing price channel, starting in June 2016.


The trend is still in a rising position on the four-hour chart - the price is above both indicator lines, while the Marlin oscillator is in the growth zone. A price exit above Friday's high (109.18) will be a buy signal.


The material has been provided by InstaForex Company -