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FX.co ★ Forecast for USD/JPY on May 4, 2021

Forecast for USD/JPY on May 4, 2021

USD/JPY

Yesterday, the US dollar failed to settle at any of the target levels: 109.26 or 109.60. It was prevented by the desynchronized Marlin oscillator, which lingered at the border of the growth area (on the zero line). All actions took place above the MACD indicator line, which implies that the bulls are in full control of the situation.

Forecast for USD/JPY on May 4, 2021

Today, most likely, a second attempt to settle above any of the target levels is being prepared. In the future, we are waiting for the development of the price channel line in the area of 110.43.

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Forecast for USD/JPY on May 4, 2021

The Marlin oscillator is returning to the upside on the four-hour chart. The positive, that is, the rising momentum, remains moderately strong.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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