FX.co ★ Forecast for USD/JPY on April 15, 2020

USD/JPY

The Japanese yen worked out the entire accumulation range between the two price channel lines on the daily chart yesterday. The lower limit of the 106.90 range is a signal level, to overcome it will serve as the beginning of movement to the lower line of the price channel at around 102.50. The price is under the balance line, the Marlin oscillator is in the zone of negative values - a downward trend has formed.

Reversal signs of the price to the current moment have not yet formed on the four-hour chart. Their appearance is possible by the end of today or even tomorrow, since the Marlin line lies in the horizon, yet the price is in the accumulation range. We are waiting for price taking under 106.90.