Forecast for USD/JPY on June 30, 2020

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USD/JPY

The yen enthusiastically reacted to the growth of European and US stock indices on Monday, although it ended lower in Asian markets. The Nikkei 225 lost 2.29% yesterday, but with the S&P 500 up 1.47% today, the Japanese index rose 1.77%. The price reached the first target level of 107.77. The Marlin oscillator has moved into the growing trend zone, the price has the opportunity to develop growth first to 108.10, then afterwards, to the target range of 108.30/40.

The four-hour chart shows that the price reversal from the MACD line turned out to be very effective. The trend is upward in both charts under review, we are waiting for the price to grow to the first target of 108.10 (May 19 high).

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The material has been provided by InstaForex Company – www.instaforex.com