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

USD/JPY

The dollar lost 59 points against the yen yesterday, helped by a 0.15% drop in the dollar index and a 0.47% decline in the US stock market (S&P 500). The bears' first target at 109.80 has been taken, now it has turned beyond the target level of 109.20 - beyond the low on June 7. Overcoming it opens the second target at 108.35.

The price settled below the balance (indicator red) and MACD (blue) lines on the four-hour scale. With the current candlestick, the price reverses down from this line. The Marlin Oscillator is declining in the negative zone, we are waiting for the further development of the downward trend.