Yesterday, the USD/JPY pair failed to overcome the resistance level of 140.35, although the upper shadow was high. The Marlin oscillator remains suppressed, unable to break away from the zero line for 6 sessions.
But now, in a calmer market after the Federal Reserve and the European Central Bank meetings, the price may hold above the level, making the 142.30 target more attainable. The Bank of Japan’s meeting took place this morning, and monetary policy remained unchanged, maintaining the current trend.
On the 4-hour chart, the price has rebounded from the support of the balance and MACD indicator lines, returning above the 140.35 level. We anticipate further price growth towards the specified target of 142.30.
The material has been provided by InstaForex Company – www.instaforex.com
USD/JPY:
Yesterday, the USD/JPY pair failed to overcome the resistance level of 140.35, although the upper shadow was high. The Marlin oscillator remains suppressed, unable to break away from the zero line for 6 sessions.
But now, in a calmer market after the Federal Reserve and the European Central Bank meetings, the price may hold above the level, making the 142.30 target more attainable. The Bank of Japan’s meeting took place this morning, and monetary policy remained unchanged, maintaining the current trend.
On the 4-hour chart, the price has rebounded from the support of the balance and MACD indicator lines, returning above the 140.35 level. We anticipate further price growth towards the specified target of 142.30.
The material has been provided by InstaForex Company – www.instaforex.com
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