USD/JPY
Yesterday, the USD/JPY pair did not even try to overcome the resistance of the MACD indicator line and the embedded price channel line, turning down from this important point.
The price decline is gaining momentum in today's Asian session. The Marlin Oscillator is pointing down. The price is moving towards the target level of 109.80. Going under it opens the second target at 109.20 - June low.
The reversal pattern of the double top of the Marlin oscillator turned out to be effective on the four-hour scale – the signal line of the oscillator penetrated into the downward trend zone. We are counting on the development of this trend by today and tomorrow.
The material has been provided by InstaForex Company - www.instaforex.com