Forex Analysis & Reviews: Forecast for USD/JPY on May 11, 2021

USD/JPY
The US dollar, despite losses against the European currencies, manages to hold out against the yen. Yesterday it grew by 14 points. There are about 40 points left before the price reaches the most important level of 109.26, and after that the 110.44 level is just ahead of us. The Marlin oscillator is once again trying to attack the border of the growing trend zone.

The price lingered for a bit on the MACD indicator line on the four-hour chart. Marlin is also not in the growth area, the price is expected to simultaneously exit above the MACD line and Marlin to enter the zone of positive values. We are waiting for growth.

Analysis are provided by InstaForex