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06.09.201907:26 Forex Analysis & Reviews: Forecast for USD/JPY pair on September 6, 2019

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USD / JPY pair

With the strongest pressure on the dollar from the currency market, the USD/JPY pair managed to show a three-day growth of 130 points. The stock market had an impact to this over the past 2 days as the S&P 500 grew by 2.40% and the Japanese Nikkei225 has added 2.84% over the past three days.

On the daily chart, the price reached the enclosed line of the rising price channel at 107.14 with fixing above the MACD line at 106.58. The Oscillator Marlin is in the growth zone of the trend. If employment indicators in the USA are not let down today, we expect further growth to the target of 108.40 towards the nested line of the downward price channel.

On a four-hour chart, the price shows steady growth above the lines of balance and MACD, and the Marlin oscillator in the growth zone. Now, bringing the price of the pair lower is a difficult task as it is necessary to fixate under the price channel line of 106.24. In the main scenario, we are waiting for continued growth.

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