FX.co ★ Forecast for USD/JPY on April 14, 2020

USD/JPY

The USD/JPY pair lost about 70 points on Monday and entered the accumulation zone of 106.90-107.75, formed by the price channel lines on the daily scale chart. The price is currently lower than both indicator lines - the balance line and the MACD line. Overcoming the lower limit of the range will open the way to a fall to 102.50, to the lower line of the price channel. The Marlin oscillator is in the negative trend zone, which raises the chances of a bearish breakout success.

The situation is completely downward on the H4 chart, but the Marlin oscillator line lies in the horizon at a decreasing price, which confirms the characteristic of the 106.90-107.75 range as an accumulation and uncertainty interval. There may be chaotic movements in this range. A signal to open short positions will be for the price to overcome the lower limit of the specified range.