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21.02.2019 08:54 AM
Forecast for USD/JPY on February 21, 2019

USD/JPY

Yesterday, the USD/JPY pair rose by 24 points due to the growth of the US stock market, which in turn received a small share of optimism from the Fed's dovish minutes - the regulator stated directly that it intended to keep monetary policy unchanged until the end of the year if inflation does not increase "stronger than expectations." Also, at the end of the year, it is planned to complete the reduction of the Fed's balance sheet.

Today, the Japanese Nikkei 225 index adds 0.31%, almost as much as the Chinese Shanghai Composite, on expectations of positive results in trade negotiations with the United States.

Consolidating the price above the line of the price channel of the daily chart 111.19 opens the way for the pair to rise to 113.15 - the point of convergence of the upward and downward price lines of the lower (weekly) scale. The signal line of the Marlin oscillator on the four-hour chart is already fixed in the growth zone.

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Laurie Bailey,
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