Let’s have a look at the events that will affect market moves.
USD/JPY: forecast for August 21-25
USD/JPY remains in short- and longer-term downtrend. Decline below 109.00 will open the way down to 108.80 (bottom of the weekly Ichimoku Cloud/August, June lows). In turn, decline below that point will bring the pair down to 108.10 (April low). A break below the latter will be a signal of the bigger top at Forex market. Resistance lies at 109.50, 110.50 and 111.00.