The Japanese yen showed a range of 56 points yesterday, at the end of the session it was only 3 points higher than the opening price. The balance indicator line served as resistance on the daily chart.
Today, the price has moved above the balance line while the signal line of the Marlin oscillator is in the zone of positive values, but further growth is hindered by the situation on the four-hour timeframe.
Here, the price decides to overcome the MACD line around the 106.20 mark, but if it fails, the price could fall again with even greater determination to reach the target of 104.96 – the lower border of the ascending price channel (daily).
So, setting the price above 106.20 opens the goal of 106.62, then the second goal of 107.00 opens.The material has been provided by InstaForex Company - www.instaforex.com