Yesterday, the yen did not react much to the general strengthening trend of the US dollar - the USD/JPY pair even fell by 10 points. Today is a national holiday in Japan, and the general uptrend, which was confirmed on Tuesday, may not be supported either.
The signal line of the Marlin oscillator is decreasing on the daily chart, so there is a probability of a retest of support of the blue channel price line (133.82) before further growth to the upper line of the price channel to 137.70.
On the four-hour chart, the price remains in the ascending position above both indicator lines. The risk of a corrective decline is created by the Marlin oscillator, which has been moving along the zero line since the 20th and is not growing. The MACD line (134.38) is an obstacle to the deep correction, which coincides with yesterday's low. If the support remains unbroken, the pair's slow rise will continue.
The material has been provided by InstaForex Company - www.instaforex.comfrom Forex analysis review https://ift.tt/H8IsuFU
via IFTTT