For Traders

Analytical Reviews

Technical analysis

10.04.202004:55 Forex Analysis & Reviews: Forecast for USD/JPY on April 10, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

USD/JPY

The dollar against the yen could not overcome the resistance of the MACD and balance indicator lines on the daily scale chart on Thursday, the price fell by 37 points. To strengthen the emerging downward trend, the signal line of the Marlin oscillator should move to the zone of negative values (daily), which is possible with the price overcoming yesterday's low.

But a strong support zone of 106.92-107.76 is below the price, formed by the nearby lines of the price channel. It is possible to say that the price has come out of uncertainty and is heading to 102.55, to the price channel line, when the price has reached its lower limit of 106.92.

The price is supported by the balance indicator line on the H4 chart, the Marlin oscillator is in the negative zone, but there is still a potential to work off the MACD line (109.45), which will look like a price increase on the MACD line on the daily chart.

Volatility is expected to be low today since it is a holiday in the US and Europe due to the eve of Catholic Easter.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.