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29.04.202105:20 Forex Analysis & Reviews: Forecasts for USD/JPY on April 29, 2021

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USD/JPY

The Fed's stubborn reluctance to talk about the risks of inflation and the fall in stock indices after yesterday's meeting cut short the optimistic recovery of the dollar. The price did not settle above the MACD line on the daily chart and returned below the target level of 108.65. It is still too early to draw conclusions. At the moment, the price is not ready to return to the low of the 23rd at 107.50, as well as to restore the growth to 109.26. The yen can keep an eye on foreign markets.

The current uncertainty is seen more clearly on the four-hour chart: the price is above the indicator lines, while the Marlin oscillator is in the zone of positive values. To break down, the price needs to go under the MACD line in the area of 108.08. To restore growth, it is necessary to settle above 108.65.

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