On Wednesday, the USD/JPY pair lost 13 points after testing the support line, which was recently resistance. Here, the price checked the strength of two technical lines at once with the red lowering price channel and the green rising. The daily scale Marlin oscillator signal line did not react to this price movement, continuing to move exactly along the border with the growth area. On the four-hour chart, the Marlin oscillator signal line touched the border with the “bears” territory and turned up this morning. Growth conditions are not violated and the price may continue to move towards the next goal of 111.05, which was the MACD line of the daily chart. Fixing above the line opens the way to the resistance of the price channel in the area of 112.37.
The material has been provided by InstaForex Company – www.instaforex.com
USD / JPY pair
On Wednesday, the USD/JPY pair lost 13 points after testing the support line, which was recently resistance. Here, the price checked the strength of two technical lines at once with the red lowering price channel and the green rising. The daily scale Marlin oscillator signal line did not react to this price movement, continuing to move exactly along the border with the growth area. On the four-hour chart, the Marlin oscillator signal line touched the border with the “bears” territory and turned up this morning. Growth conditions are not violated and the price may continue to move towards the next goal of 111.05, which was the MACD line of the daily chart. Fixing above the line opens the way to the resistance of the price channel in the area of 112.37.
The material has been provided by InstaForex Company – www.instaforex.com
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