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27.04.202105:40 Forex Analysis & Reviews: Forecasts for USD/JPY on April 27, 2021

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USD/JPY

The dollar continues to rise against the yen since it reversed from the 107.55 target level on April 23. The Marlin oscillator shows a clear upward reversal on the daily chart, while the price has to go over the MACD line at 108.60. After that, the 109.37 target (top on March 15) will open, then 110.40 - the embedded price channel line (marked in green on the chart).

The four-hour chart shows that the price went over both indicator lines and settled. The Marlin oscillator is rapidly growing. The growth is fraught with the danger that it could enter into the overbought area, but so far the price needs such an impulse for a confident reversal.

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