For Traders

Analytical Reviews

Technical analysis

02.07.202104:45 Forex Analysis & Reviews: Forecast for USD/JPY on July 2, 2021

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 continued to rise against the yen on Thursday, set on Wednesday. The quote surpassed the 111.39 target level and the next target at 112.22 was opened (a high from February, 2020).

Exit above the level opens the next target along the embedded line of the rising price channel in the area of 112.92. The emerging triple price divergence with the Marlin oscillator is most likely doomed.

On the four-hour chart, it is noticeable how the price lingered quite a bit above the 111.39 target level yesterday and then continued to rise. This is a sign that it strives to reach the next target level at 112.22. The signal line of the Marlin oscillator is turning down slightly with the price, which appears as a relief in the market ahead of the evening key US employment report.

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.