For Traders

Analytical Reviews

Technical analysis

03.07.202005:00 Forex Analysis & Reviews: Forecast for USD/JPY on July 3, 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 USD/JPY pair rose by a symbolic three points on Thursday. The reason was the growth of the stock market (S&P 500 +0.45%). Asian markets are experiencing moderate growth today: the Nikkei 225 0.23%, S&P/ASX 200 0.25%, Shanghai Composite 1.03%. The US market is closed today due to a national holiday.

Yesterday's growth did not exceed the resistance of the balance indicator line (red) on the daily scale chart, and the price is consolidating under it. The signal line of the Marlin oscillator moves strictly along the border separating the growth and decline zones.

The price is above the balance line, but the Marlin line is in the negative zone on the four-hour chart. As a result, according to the situation on both scales, the USD/JPY pair is in a neutral position, which can only be broken next week. The potential of the subsequent movement is decreasing, the goal of 107.05/08 is the area of support for the MACD lines on both charts that are under consideration.

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.