Black Pipper

Forex Dreamers

USD / JPY Analysis and Forecast from April 22, 2021 USD / JPY pair develops a downward movement

USD / JPY Review from April 22, 2021

USD / JPY continues to trade in a downward channel with renewed lows on March 5.

The dollar remains under pressure from declining Treasury yields and a worsening epidemiological situation in many countries, which casts doubt on the rapid recovery of the global economy. In such conditions, investors choose the yen from two defensive assets.

Japan’s March consumer inflation report is due Friday. In the US, the April PMIs and the report on the dynamics of new home sales in March will be published.

Also read  Currency rates of the Central Bank of the Russian Federation: the ruble against the dollar, euro, hryvnia, lira, tenge, yuan
Technical Analysis of USD / JPY

The Bollinger Bands indicator develops a steady decline on the chart of the daily formation.

The MACD indicator crossed the zero level from top to bottom and continues to decline in the negative range of values, having formed a rather strong sell signal.

Stochastic is in the area of ​​minimum values.


After breaking down the level of 107.78, we consider entering short positions with a take profit at 107.00. Set the protective stop at 108.20.

In case of a rebound from 107.78, we will wait for a breakdown and consolidation above 108.20. From here we enter buy with a take profit at 109.00. Placement of a stop loss at 107.78.

Also read  General analysis and forecast of USD / JPY for today, May 5, 2021

Leave a Reply

Your email address will not be published. Required fields are marked *