Forecast for USD/JPY on August 27, 2021

USD/JPY

Yesterday, the dollar rose against the yen, in the process of growth it was even able to overcome the MACD line, but only with the upper shadow of the daily candle. Unfortunately, this is a signal for a downward reversal - through the support at 109.85 to the target level of 109.20. But the signal, of course, is not absolute, especially since the Marlin Oscillator looks well fixed in the rising trend zone. The repeated exit of the price above the MACD line for the second time will open the door for the price to the level of 110.60.

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On the four-hour scale, the price continues to develop above both balance and MACD indicator lines, the Marlin oscillator is decreasing, but has not yet left the zone of positive values.

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So, a price exit above 110.10 (above the MACD line on the daily) will keep the market ready for continued growth, if such a signal is supported by stock indices, and the price falls below 109.85 opens the way to 109.20. Wait for the signal with Federal Reserve Chairman Jerome Powell in Jackson Hole.

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

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