Forecast for USD/JPY on August 10, 2021

USD/JPY

The USD/JPY pair spent Monday in consolidation below the MACD line on the daily timescale. The first attempt to overcome it took place this morning. The green line of the price channel is above the MACD line. If the price rises above it, above 110.58, the price might reach the target level of 111.39. The support is the 109.80 level. The Marlin Oscillator has settled in the territory of an upward trend, supporting the intention to move higher.

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On a four-hour scale chart, the Marlin Oscillator is decreasing in the characteristic manner of the oscillator discharge - a flat, flat line, which means that the growth will resume soon along with the price. The probability of overcoming 110.58 is 60%.

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

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