USD/JPY
The dollar grew by 17 points against the yen yesterday on, albeit a shaky, US agreement with China on the first stage of the trade agreement. China's industrial production in November added 6.2% y/y against the forecast of 5.1% y/y, retail sales increased from 7.2% y/y to 8.0% y/y. On the daily chart, the price overcame the control range of 109.30/50 in order to grow to 110.00 - to the green price channel line, but the Marlin oscillator sharply slowed down in growth, forming a third peak on the resistance of the forming line. The indicator can fall from it. In this case, the first price target will be the MACD line in the area of 108.93.
On the four-hour chart, Marlin is more pronounced declining against rising prices. It is very likely that the dollar will not grow further, the price will return to the control range of 109.30/50 and, when the price falls below its lower boundary, it will attack the resistance of the MACD line at 109.08 (which is very close to the mark of the MACD line on daily).
Today, the US economic data and the corresponding growth of stock markets can overcome the reversal situation. Industrial production is expected to grow by 0.8% in November, while the forecast for new housing starts is 1.34 million in November against 1.31 million in October.
