USD/JPY
The US stock market added 0.25% on average yesterday, which had a positive effect on the USD/JPY pair, which correlates with the stock market. The price experienced slight difficulties at the Fibonacci level of 110.0% (daily), and is breaking through it this morning. The signal line of the Marlin oscillator is preparing to penetrate the growing trend zone. The target for price growth is the area of the Fibonacci level of 100.0% and the MACD line at around 106.05.
The price is growing on the four-hour chart, above both balance and MACD indicator lines. The Marlin oscillator is declining, but by the nature of the decline (flat sloping line), this is not a signal for a price reversal, but a discharge of the indicator itself before growing further. We are waiting for the USD/JPY pair at the target level of 106.05.
