logo

FX.co ★ Forecast for USD/JPY on April 7, 2021

Forecast for USD/JPY on April 7, 2021

USD/JPY

The dollar is tired of being the market leader at a time when it is losing this leadership relative to other world currencies. Yesterday, the dollar index lost 0.31, and so the USD/JPY pair dropped 42 points. The divergence of the price and the oscillator on the daily scale turned out to be working, Marlin is already in the downward trend zone. Now the situation develops to the fact that after it has settled (in one or two days) at the target level of 109.37, the price will continue to decline to the target level of 108.40 - to a support on March 10 and 23.

Forecast for USD/JPY on April 7, 2021

The price has settled below the MACD indicator line on the four-hour chart, while Marlin is in the downward trend zone. We are waiting for the dollar to fall further against the yen.

See also: Start Forex trading with a European level broker!
Forecast for USD/JPY on April 7, 2021

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account