FX.co ★ IgniteTrade | USD/JPY

USDJPY Forecast: Hi, All members are welcome! Let's talk about the USD/JPY currency pair today, hope you're all doing well. Now by providing free passports to truck drivers transporting fuel oil, the British government can resolve the fuel crisis that occurred this month quite easily. Additionally, the global pandemic, which has increased unemployment in the United States, and it has made USD/JPY fundamentally appreciate against other currencies. Until the UK receives bad fundamental news, we will continue to buy options. So due to the fact that this currency follows gold, if gold declines, then so will this currency. However, currency pair USD/JPY it is possible for the bears to strengthen. Observe the hourly chart. And according to the chart, the price is declining. Therefore the parabolic SAR indicator indicates a sale.

Moreover, the Made is in the negative zone and gives a signal to sell. As well as this, the trading forecast is to sell from 158.987 with a target of 159.707, eventually, the stop will be placed at 158.657. Whether USD/JPY against the yen pair pushed up strongly Monday, thus surpassing our second target of 158.037 and currently approaching our next target at 158.527, and moving within an ascending channel that appears on the chart above, as supported by the EMA100 that carries the price from below. Thus, we believe that opportunities are available to achieve more gains in the upcoming sessions, afterall even breaching the last level will push the price towards 158.837 directly, meanwhile the expected rise will remain unless 159.057 is broken and stability below it.