For Traders

Analytical Reviews

Technical analysis

26.08.202204:50 Forex Analysis & Reviews: Forecast for USD/JPY on August 26, 2022

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.

Yesterday the USD/JPY pair fell by 65 points, but did not dare to attack the support of the nearest price channel line. In today's Asian session, the price is trying to grow, and it is not yet clear how serious its intention is to go above the resistance of the upper embedded line of the price channel in the area of 137.80. Resistance is strengthened by the MACD indicator line.

The price is held within the range of these parallel lines. It could leave this area by today or Monday if Federal Reserve Chairman Jerome Powell's speech at Jackson Hole is fresh, upbeat and stimulating.

The decline of the Marlin Oscillator has a stable trendy look on the four-hour chart, so the price transition under the price channel line at the level of 136.10 and the MACD line reinforcing it has a good chance of realization. In this case, the 134.40 target will be open - an embedded line of the price channel on the daily chart.

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.