FX.co ★ Forecast for USD/JPY on June 20, 2019

USD/JPY

The USD/JPY pair chose the downward scenario following yesterday's Federal Reserve meeting. The trend reversal occurred from the zero line of the Marlin oscillator four-hour scale. The price for H4 has consolidated below the signal-target level of 107.78 (a January 10 low) and is now dropping to support the embedded line of the price channel of the weekly timeframe to the level of 107.02. Consolidating below the line can provoke a sharp fall to the intersection area of the rising price channel (green) and a decline to 105.50.