Forecast for USD/JPY on August 31, 2021


On the daily chart, the price with full candles for three days is between the support level of 109.85 and the MACD line. This distance is compressed by the approaching indicator line and the price should choose the direction today. External conditions incline the pair to choose a downward direction to the nearest target at 109.20. There are two of these circumstances: the weakening of the dollar index and the latent origin of panic in the stock markets. Yesterday, US markets closed in different directions: Dow Jones -0.16%, S & P500 0.43%, Russell 2000 -0.51%. Yields on medium and long-term US government bonds have been declining for the fourth consecutive day - on 5-year securities, the yield during this time has decreased from 0.850% to 0.759%. It is very possible that on Friday the US labor market will release disappointing indicators, as we talked about on Monday, and this will become a strong impetus for the downward movement of stocks.


Today remains uncertain for the pair, the price has not settled above either the MACD line or below the level of 109.85.


The price is supported by the MACD line and the level of 109.85 on the four-hour chart. The Marlin oscillator is neutral, but still in the negative zone. We are waiting for the development of events.

The material has been provided by InstaForex Company -

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