This morning, like in the last two days, the price is below the price channel line; yesterday, it tried to break through this line upward, on Friday, there was an attempt to break through downward. We don’t know where the price will swing for the third time, even the oscillator line moves strictly horizontally.
However, if the pair crosses yesterday’s high of 134.74, it will try to reach the target level of 135.40, and consolidation above it will open the way to 138.38 – to the upper line of the price channel. If it crosses Friday low of 133.56, the price will continue to fall to the MACD line around 131.80.
On the four-hour chart, the general outlook is bearish, since the price could not overcome the resistance of the MACD line, and the Marlin oscillator’s signal line turned down from the zero line.
The material has been provided by InstaForex Company – www.instaforex.com
USD/JPY
This morning, like in the last two days, the price is below the price channel line; yesterday, it tried to break through this line upward, on Friday, there was an attempt to break through downward. We don’t know where the price will swing for the third time, even the oscillator line moves strictly horizontally.
However, if the pair crosses yesterday’s high of 134.74, it will try to reach the target level of 135.40, and consolidation above it will open the way to 138.38 – to the upper line of the price channel. If it crosses Friday low of 133.56, the price will continue to fall to the MACD line around 131.80.
On the four-hour chart, the general outlook is bearish, since the price could not overcome the resistance of the MACD line, and the Marlin oscillator’s signal line turned down from the zero line.
The material has been provided by InstaForex Company – www.instaforex.com
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