Forecast for USD/JPY on June 24, 2020



Yesterday, the USD/JPY pair made false shots in both directions in a total range of 114 points, but eventually, it closed the day with a loss of 39 points. The upper limit for the price was the embedded line of the price channel on the daily chart. The nearest target at 105.85 is open on the lower price channel line. Overcoming the support opens the second target of 105.40.

The reversal occurred from the MACD line on the four-hour chart. In this case, the resistance line coincided with the price channel line of the daily timeframe, the level strengthened, the price turned around quickly and strongly.


The trend is completely decreasing at both price scopes, we are waiting for the fall to continue.

The material has been provided by InstaForex Company –

Source:: Forecast for USD/JPY on June 24, 2020

Won't your trader friends like this?
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply