Forecast for USD/JPY pair on July 12, 2019

analytics5d280b17786da.png

USD / JPY pair

The dollar fell by 100 pips from the embedded line of the price channel to the lows of June 3-7 (107.87), which occurred after Jerome Powell’s speech in the House of Representatives did not bypass the yen. On a daily scale, the price is now struggling with resistance by the indicator balance line.

Yesterday, the price rebounded from the support of 107.87 which is currently fixed above the MACD line on the four-hour chart. Also on H4, the Marlin oscillator signal line is fighting for the opportunity to be on the growth territory.

analytics5d280b3685690.png

The general trend has recovered to an increase and we are waiting for the price in the range of 109.00/13, which was formed by the peaks of July 9-10 and the MACD line on the daily. Going out of the range opens the nearest target to 109.80.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Forecast for USD / JPY pair on July 12, 2019

Won't your trader friends like this?
InstaForex
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

*