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Forecast for USD/JPY on August 9, 2021

USD/JPY

Last Friday, the US dollar took full advantage of the weakening of European currencies and the growth of stock markets, adding 47 points against the yen.

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There are several points left to the MACD line on the daily scale as to the goal. Slightly above it is the embedded price channel line at 110.58. It will probably become the closest target. Consolidating above it will allow the dollar to continue to rise to the target level of 111.39 - to the high on May 2018.

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The price has settled above both indicator lines on the four-hour chart, the Marlin oscillator is in the growth zone, but slightly declining. The market and the indicator are likely to accumulate strength before further growth.

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