USD/JPY
External pressure on the USD/JPY pair from the stock market is increasing, which we mentioned in yesterday's review. The US stock index S&P 500 fell by 3.07% on Tuesday, while the Japanese Nikkei 225 is losing 1.67% today. Despite this, the price grew by 19 points, staying within the consolidation range of 107.18-108.10.
The price is still below the balance line on the daily chart, the signal line of the Marlin oscillator is trapped in a downward wedge, we are waiting for the price to break down. After practicing the first target level of 106.85 (which in fact is not so much a goal as a signal level of medium-term movement), the main goal of 102.40 opens.
The price is above the indicator lines on the four-hour chart. The downward movement will develop only after the price returns below 107.18, which coincides with the April 16 low. We look forward to further developments.
