Yesterday, the US dollar gained 16 points against the yen. The MACD indicator line on a daily scale turned out to be an insurmountable obstacle at that time. The price is making another attempt to overcome this resistance in today's Asian session, it is helped by the Marlin Oscillator, which is moving upward with the intention of getting out of the negative area. But for further growth, the pair must overcome the signal level of 113.96, in this case the 115.80-116.15 target will open.
The price bounced up from the MACD line on the four-hour chart, but Marlin is still in the negative area. Nevertheless, the situation for the pair is mostly bullish.
The alternative scenario is three-stage; the first sign of a decline is when the price moves below the price channel line 113.22 (daily chart), then it will need to overcome the signal level of 112.54, and only then will the 110.77 target open.The material has been provided by InstaForex Company - www.instaforex.com