Forecast for USD/JPY on August 19, 2021

USD/JPY

The dollar-yen pair continues to make up for lost time last week and has already approached the MACD line (110.25) on the daily chart. Overcoming this line opens the target along the embedded line of the price channel at 110.60.

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The signal line of the Marlin Oscillator has entered the upward trend zone with strength, which shows the seriousness of the price's intention to continue to rise.

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On the four-hour scale chart, the price went above the MACD and balance indicator line, the Marlin oscillator is growing in the positive area. We are waiting for the price at the first target level of 110.60. Consolidating above it opens the second target of 111.39 - the high of May 2018.

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

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