Forecast for USD/JPY on August 3, 2021


Yesterday, the Japanese yen reached the entire range of target levels 109.20/80, and this morning, it shows the intention to go beyond 109.20 and continue strengthening against the dollar. The pair is aiming for 108.35 - the lows of May 7 and 11. The Marlin Oscillator is declining.


The signal line of the Marlin Oscillator has formed a new continuous wedge on the four-hour char, the exit from which is most likely to go down. After consolidating under 109.20, the price may continue to decline towards the specified target.


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