01.06.202004:50 Forex Analysis & Reviews: Forecast for USD/JPY on June 1, 2020

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USD/JPY

The yen traded in the range of more than 80 points on Friday, closing the day by 15 points with the release of US data on personal income and expenses for April. Revenues rose 10.5% from expectations of -7.0%, which will lead to increased consumption in the coming months. Stock indices reacted mixed: S&P 500 0.48%, Dow Jones -0.07%, Nasdaq 1.29%, Russell 2000 -0.72%. Today, in the Asian session, the Japanese Nikkei 225 index grows by 1.26% and even the Chinese Shanghai Composite, despite Trump's threats to reconsider its relations with Hong Kong (and, obviously, with China), grows by 1.40%. American investors still believe that Trump will not go to extreme aggravation with China before the presidential election.

The price is confidently held by the red balance indicator line on the daily chart. The MACD line proved to be a reliable support. Since the price was released above the signal level of 107.78, we are waiting for its growth to 108.30.

The price is above the MACD line on the four-hour chart, Marlin returned to the growth zone. The time for a decisive assault on the first target level has arrived.

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