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21.04.202105:39 Forex Analysis & Reviews: Forecasts for USD/JPY on April 21, 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

As a result of yesterday, the yen settled below the MACD indicator line on the daily chart. The price's intention to reach the target range of 107.35/55 has intensified.

Exchange Rates 21.04.2021 analysis

A double convergence may form on the four-hour chart, which implies that the price may continue to fall by 40-50 points. In this case, the signal line of the Marlin Oscillator will work out the support of the converging line, and the price will reach the target range. The price is likely to face a medium-term growth from this range.

Exchange Rates 21.04.2021 analysis

Laurie Bailey
Analytical expert of InstaForex
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