Unfortunately, the yen did not follow the rising stock market on Monday. The US S&P 500 Index gained 1.27%, but the USD/JPY pair fell 40 points. The Japanese Nikkei 225 is losing 0.61% this morning.
The price settled below the balance indicator line on the daily chart, the Marlin oscillator entered the downward trend zone. The decline is aiming for the magnetic point where two lines of price channels intersect - an upward and downward one at the price of 105.18.
The four-hour chart shows the price falling below the signal level of 105.80 (September 9 low), all indicators are directed downward, the price is heading towards the specified target point.The material has been provided by InstaForex Company - www.instaforex.com