FX.co ★ Forecast for USD/JPY on June 11, 2020

USD/JPY

The USD/JPY currency pair continues to fall intensively. The stock market even helped it yesterday: the S&P 500 -0.53%, Euro Stoxx 50 -0.81%. Today, Nikkei 225 is losing 1.24%, Chinese China A50 -0.67%.

The price went below the MACD indicator line on the daily chart, entering a complex range limited by the embedded trend line of the price channel at 105.95. Leaving the price below this level will trigger a medium-term decline in the dollar relative to the yen. The immediate goal is 102.02. Marlin is in the negative zone, in the zone of a declining perspective trend.

The price has been recorded below the signal level of 107.10 on the four-hour chart. The Marlin oscillator is in the declining trend zone. We are waiting for the price to fall. A correctional consolidation is likely within the range of 105.95-107.25.