USD / JPY
On the daily chart of the USD / JPY pair, the price continues to consolidate with upward pressure. Also, the signal line of the Marlin oscillator rises with difficulty, remaining under its own resistance of the two previous peaks marked by arrows on the indicator chart. The immediate target of growth will be the green nested line of the upward price channel at 110.00. From this goal, there may be a price reversal downwards, in this case, the divergence according to Marlin will take on a more complex extended form, it is marked with an azure dotted line. Overcoming resistance will open the second target 110.40. Here, the resistance is the upper limit of the red downward price channel, originating from August 2015, which could become an even stronger reversal factor.
A triangle forms on the four-hour chart and this is a sign of another upward movement. The price, on the other hand, is above the indicator lines, while the Marlin signal line moves exactly along the border of trends which is rising and falling in a neutral position.
So, we are waiting for another upward price movement before it turns down.
