At the end of last week, the USD/JPY pair failed to reach the target support level at 138.60, which is the embedded line of the global price channel. However, there was a reversal of the Marlin oscillator signal line from the border of the downtrend area. This is a sign of strong growth potential. The pair has a good chance of crossing the resistance level at 140.35, and the market will reach the 142.30 target.
On the four-hour chart, the Marlin oscillator has re-entered the bullish area. The price has also moved above the balance indicator line once again. It is evident that the price intends to strengthen its upward movement.
On the 4-hour chart, the resistance level at 140.35 is reinforced by the MACD line. This level is strong, and overcoming it will positively impact the quality of the upward movement.
The material has been provided by InstaForex Company – www.instaforex.com
USD/JPY
At the end of last week, the USD/JPY pair failed to reach the target support level at 138.60, which is the embedded line of the global price channel. However, there was a reversal of the Marlin oscillator signal line from the border of the downtrend area. This is a sign of strong growth potential. The pair has a good chance of crossing the resistance level at 140.35, and the market will reach the 142.30 target.
On the four-hour chart, the Marlin oscillator has re-entered the bullish area. The price has also moved above the balance indicator line once again. It is evident that the price intends to strengthen its upward movement.
On the 4-hour chart, the resistance level at 140.35 is reinforced by the MACD line. This level is strong, and overcoming it will positively impact the quality of the upward movement.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: