USD / JPY
Since the first day of May, the yen cannot consolidate above the 110.85 price level in order to have support for further growth. In the past three days, the pair collapsed under the support of the nested line of the price channel. But today, it is trying to step above it in the Asian session. The price fell after the Marlin oscillator signal line reversed from the border with the growth area on a daily scale chart. To date, the indicators on the daily and four-hour charts are falling.
The dollar against the yen still has the opportunity to turn around and move to the magnetic point of 110.26 formed by the intersection of the price channel lines (daily). Yet, fixing under the Friday minimum, respectively, and under the price channel line, opens a bearish target 107.78 - at least 10 January this year. The exit of the price above the level of 110.26 opens the major target level 110.85.
The probability of growth is 35%, and the probability of a decline is 65%.
