FX.co ★ Forecast for USD/JPY on May 28, 2021

USD/JYP

The USD/JPY pair broke free of the 108.35-109.37 uncertainty range. Yesterday's growth reached 65 points after reaching the MACD line, the price has grown a little more in today's Asian session and has reached the target level of 109.97 (high on April 9).

Now the pair has a plan to overcome the resistance achieved. It is impossible to determine whether it will happen today or next week, but statistically, a price pullback is more likely before the final attack at 109.97. If successful, the price will rise to the magnetic point from the intersection of the two lines of the price channels at 110.50. The exit above the level opens up the prospect of growth by another one and a half or two figures.

The price is completely in an upward trend on the four-hour chart, but the current technical situation does not help in resolving the issue when the price will transition above the level of 109.97. We are waiting for the situation to develop.