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19.04.202405:03 Forex Analysis & Reviews: Forecast for USD/JPY on April 19, 2024

USD/JPY

Since the USD/JPY pair has surpassed the resistance level of 154.25, it has consolidated above this mark for three days. However, although the price is above the level of 154.25, it could not stay above the embedded line of the price channel (154.50) at this time, especially with the Marlin oscillator declining.

Exchange Rates 19.04.2024 analysis

As a result, the bears took over the initiative, and in today's Asian session, they pulled the price below the support at 154.25. On the 4-hour chart, the price reached the MACD indicator line (153.73). A consolidation below it opens the way to 151.95.

Exchange Rates 19.04.2024 analysis

Also, on the 4-hour chart, the signal line of the Marlin oscillator broke down after consolidating below the zero line. We are waiting for the pair to fall further.

*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2024
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