FX.co ★ Forecasts for USD/JPY on April 28, 2021

USD/JPY

Yesterday the USD/JPY pair showed an intensified growth (amid average market volatility) of more than 60 points and overcame the resistance of the MACD line on the daily chart (108.65). The technical growth targets have changed due to recent events. Now the closest target is the 109.26 level - April 12 low, then 109.60 - April 7 low, then the price may accelerate towards the price channel line to the 110.40 mark.

There is a strong growth on the four-hour chart with confirmation from all indicators. The 108.65 target level is the support, which coincides with the daily MACD line. The price may slightly decrease towards this support in order to discharge the Marlin oscillator before continuing the growth.