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MT5.com - Forecast for USD/JPY on July 31, 2020

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Forex Analysis:::2020-07-31

Forecast for USD/JPY on July 31, 2020

USD/JPY

The Japanese yen continues to develop according to the main scenario: a consistent decline to the target levels of 103.80, 102.45. The price forcefully overcame the 104.60 level on the daily chart, about 60 points to the nearest at 103.80. It seems that the level will be reached, as the readings of the indicators are decreasing and strong.

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The signal line of the Marlin Oscillator on the four-hour chart has turned down from the border of the growth territory.

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Laurie Bailey
Analyst InstaForex
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