FX.co ★ Forecast for USD/JPY on April 15, 2021

USD/JPY

The Japanese yen's situation has not significantly changed over the past day. Yesterday's uncertainty remains. Even the price's emerging convergence with the Marlin oscillator on the four-hour chart remains questionable.

Nevertheless, the pair dropped only 12 points under yesterday's powerful ideological pressure on the dollar (trading volumes were not large), which creates an increased expectation for the pair to turn to the upside. The price does not look clearly aligned with 109.37 target level, therefore, the main sign of growth will be when the price surpasses the MACD line in the area of 109.65.

On the daily chart, the price has reached the balance indicator line and is not trying to go under it, which indicates that the market is still interested in buying the dollar. The target, as before, is 110.38 - the price channel line of the monthly timeframe.