FX.co ★ Forecast for USD / JPY pair on June 6, 2019

USD / JPY pair

On Wednesday, the yen once again tried to reach the target level at least to January 10 level of 107.78 but turned up after receiving support from strengthening of the dollar. On the daily chart, convergence has become more pronounced. On the four-hour chart, Marlin's oscillator signal line is in the growth zone. But as we said before, it needs to go above the trend line of the price channel in the area of 109.25 (daily) in order to create stable prices for growth.

In the process of difficult growth, we are waiting for the price to reach the MACD line at 108.95 on the four-hour chart and a possibility for further rollback before attacking the resistance of the price channel.