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13.04.202105:43 Forex Analysis & Reviews: Forecast for USD/JPY on April 13, 2021

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USD/JPY

Yesterday the US dollar managed to avoid falling below the critical level of 109.37 against the yen, below which there was a chance that it could fall to 108.40. The pair is growing this morning, while the Marlin oscillator is turning up. We are waiting for the price to successfully overcome the linear resistance of the price channel in the 110.37 area and continue to grow to the target level of 111.39 - to the October 2018 low.

On the four-hour chart, Marlin found the zero line as a reliable support and is now turning upwards from it. The immediate task is to overcome the consolidation zone on April 7 and go above the MACD line (109.90), afterwards the path to growth will be open.

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