The USD/JPY currency pair's dreams to overcome external pressure and rise to 111.39 collapsed a quarter step before the price consolidated above the MACD indicator line on the daily scale chart.
On Thursday, the price touched this line and fell below the target level of 109.80. The Marlin Oscillator begins a downward reversal without reaching the zero line, and there is now a downward trend towards the target of 109.20.
On a four-hour scale, yesterday's price exit above the MACD line is now interpreted as false, therefore, further price movement is most likely downward now. The Marlin Oscillator is still in the zone of positive values, but with its transition to the negative zone, the pressure on the price will increase. We are waiting for the yen at the target level of 109.20.The material has been provided by InstaForex Company - www.instaforex.com