The USD/JPY pair is heading straight towards the target level of 155.80, with “just a little” left to go. Closing above this level will open up the target along the line of the global price channel at 156.58. These are formal and weak signs of growth. They are not supported by the Marlin oscillator, which has been falling for seven sessions in a narrow channel.
The main reason for the bearish price reversal could be tomorrow’s Bank of Japan meeting, as investors are waiting for the “last warning”, who are too keen on playing against the yen. There are speculations that the BOJ may raise interest rates, especially considering recent statements by Finance Minister Shunichi Suzuki and even his meeting with Janet Yellen, which may have served as a “final warning.”
On the 4-hour chart, the signal line of the Marlin oscillator has moved up from narrow consolidation at the zero line, and the price is rising above the indicator lines. The pair may reach the level of 155.80.
The material has been provided by InstaForex Company – www.instaforex.com
USD/JPY
The USD/JPY pair is heading straight towards the target level of 155.80, with “just a little” left to go. Closing above this level will open up the target along the line of the global price channel at 156.58. These are formal and weak signs of growth. They are not supported by the Marlin oscillator, which has been falling for seven sessions in a narrow channel.
The main reason for the bearish price reversal could be tomorrow’s Bank of Japan meeting, as investors are waiting for the “last warning”, who are too keen on playing against the yen. There are speculations that the BOJ may raise interest rates, especially considering recent statements by Finance Minister Shunichi Suzuki and even his meeting with Janet Yellen, which may have served as a “final warning.”
On the 4-hour chart, the signal line of the Marlin oscillator has moved up from narrow consolidation at the zero line, and the price is rising above the indicator lines. The pair may reach the level of 155.80.
The material has been provided by InstaForex Company – www.instaforex.com
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