FX.co ★ Forecast for USD/JPY on May 7, 2020

USD/JPY

The US stock index S&P 500 fell by 0.91% on Wednesday, which helped the USD/JPY pair to decline by 48 points. The price did not significantly fall exactly along the 9th Fibonacci time line, but maybe later, or it can be staged in an ongoing trend, as it happened from the 5th time line. The goals of the bears are preserved: 105.10, 103.95, 102.35.

The price continues to develop under the balance and MACD indicator lines on the four-hour chart, the Marlin oscillator in the zone of negative values. We look forward to continued decline.