empty
 
 
30.07.2020 04:54 AM
Forecast for USD/JPY on July 30, 2020

USD/JPY

The Japanese yen traded below the 105.15 level on Wednesday, but the second target at 104.60 was not reached. The signal line of the Marlin oscillator is turning up, the correction may continue with an attack on the descending line of the price channel, that is, above the 105.60 level.

This image is no longer relevant

The double convergence is not strong on the four-hour chart, but it is fully working out, the signal line of the Marlin oscillator is about to penetrate into the positive trend zone. Consolidating the price above the 105.15 level could lead to a retest of the 105.70 level. Stock markets are complacent about the second wave of coronavirus; yesterday, the US S&P 500 rose by 1.24%, today the Japanese Nikkei 225 is growing by 0.20%. Accordingly, the dollar can somewhat restore the lost positions.

This image is no longer relevant

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback