Forecast for USD/JPY on August 26, 2021

USD/JPY

Yesterday, the USD/JPY pair met the resistance of the MACD line on the daily chart for the last five days for the third time. And, as in previous cases, it could not overcome it. But this time there was one addition to the technical picture - the Marlin oscillator moved into the growing trend zone, and, what is also important, after testing the MACD line, the price did not begin to fall, as it did on August 19 and 23. At the moment, the price is struggling with the MACD line and breaking it above 110.12 will open the target at 110.60 - the price channel line of the higher timeframe.

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The price is consolidating below the signal level of 110.12 on the four-hour timeline. And the price is above the MACD indicator line. The Marlin Oscillator is sideways in the positive trend zone. We are waiting for the price to settle above the signal level and growth to continue.

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

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