Last Friday, the USD/JPY pair dropped 45 points, and in today's Asian session it is rising by 30 points. On a daily scale, the Marlin Oscillator is outlining a reversal, but this is a very weak signal; the correction may continue to a stronger base of the embedded price channel line of the weekly timeframe at 113.12. The signal level for continued growth to the target of 115.80 is the resistance at 114.45, which did not allow the price to develop growth on October 15, 18, 21.
The Marlin Oscillator is turning up on the four-hour chart, but this growth is not very confident, since it is price driven and no reversal pattern has been formed, for example, convergence with price. It is possible that the price will be in a horizontal trend for the whole day.
The MACD line is approaching the signal level of 14.45, which increases its strength and importance.The material has been provided by InstaForex Company - www.instaforex.com