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FX.co ★ Forecast for USD/JPY on August 17, 2021

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Forex Analysis:::2021-08-17T03:47:49

Forecast for USD/JPY on August 17, 2021

USD/JPY

Yesterday, the dollar's losses against the yen reached 37 points. The price has reached the target level of 109.20 and stopped there. As we wrote earlier, the price drift below this level can lead to volume closure of positions and the price will fall to 108.35. There is still a sign of an upward reversal even on a daily scale - the signal line of the Marlin Oscillator shows such a reversal.

Forecast for USD/JPY on August 17, 2021

According to the main scenario, the price is supposed to go above the target level of 109.80 - the growth continues on the stock markets and the main indices set new records.

Forecast for USD/JPY on August 17, 2021

The Marlin Oscillator is also turning up on the H4 chart. But the price is still under pressure, and from a practical point of view, it is advisable to wait another day before deciding whether to buy or sell.

Analyst InstaForex
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