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24.06.201908:02 Forex Analysis & Reviews: Forecast for USD / JPY pair on June 24, 2019

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USD / JPY pair

Another yen breakdown in the second half of last week formed a double convergence with the Marlin oscillator on the daily scale chart. The target support of the trend line of the price channel at 107.02 is almost reached on the weekly timeframe. An underwater stone can lurk here as the price is quite capable of making a false dive below a trend line by 20-40 points, which will be enough to test the convergence of an oscillator in the classic version while touching the generator line and turning it upwards. In any case, the prerequisite for opening long trading positions is to move the price over the MACD line on the four-hour chart. At the moment, it is approximately at level of 107.86.

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