Forecast for USD/JPY on August 23, 2021

USD/JPY

The yen struggles with fate. Last Friday, the pair overcame the pressure of neighboring currencies, which were strengthening against the dollar. In today's Asian session it went above the target level of 109.80 with the intention to overcome the MACD line for the second time around 110.15. And this time the Marlin oscillator, which has penetrated into the positive trend zone, will help the price in this. The exit above 110.15 opens the second target at 110.60 - the embedded line of the price channel of the weekly timeframe.

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The price is still struggling with the MACD line on the four-hour chart. Exit above it, above the level of 109.94, will make it possible to attack the MACD line of the daily scale (110.15), so you should wait for the price to break through 109.94 to generate a signal. If the signal is not received, the price will settle below 109.80, we will wait for the formation of a new signal for a further decline. Such a signal will probably be the transition of the Marlin oscillator to the zone of negative values.

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

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