FX.co ★ Forecasts for USD/JPY on April 26, 2021

USD/JPY

Last Friday, the yen reached the 107.55 target level and significantly bounced off it. The price fulfilled its intention, reached the target, completed the downward correction from the top on March 31, and now it is possible for it to turn towards the main movement - targets: 110.40, 112.20. But this is only an assumed scenario, albeit the main one. Only the Marlin oscillator speaks in its favor, which horizontally moves since April 20th when the price drops.

Marlin has not yet entered the growth zone on the four-hour chart, the price is below the balance lines (red indicator) and MACD (blue). As the price rises above the MACD line, to the 108.40 target level, the main growth scenario will be confirmed. We are waiting for the development of events.