Yesterday, the USD/JPY pair traded in a range of 50 points, closing the day with an increase of 8 points, and did not find the strength to overcome the MACD indicator line, because US stock indices closed the day in the red zone (S&P 500 -0.13%). But this morning, the Japanese Nikkei 225 is up 1.16%, which helped the price overcome the resistance of the MACD line.
Now the 110.62 target is open - the embedded line of the price channel. Whether this level will be overcome is a big question, because the previous three attempts since July 13 were unsuccessful.
On the four-hour scale, the price rises above the balance and MACD, the Marlin oscillator has penetrated into the zone of positive values, the trend is fully upward, and this impulse should be enough until the first bullish target of 110.62 is reached.The material has been provided by InstaForex Company - www.instaforex.com