USD/JPY
The USD/JPY pair is in a difficult position right now; the dollar index lost 0.27% yesterday, and the US stock indices closed in different directions: Dow Jones -0.20%, S&P 500 0.29%, Russell 2000 -0.07%. In today's Asian session, the Japanese Nikkei 225 index is down 0.36%, while the Australian S&P/ASX 200 is growing by 0.58%. That is, the uncertainty has moved to the Asian region.
Trading in the 108.40-109.37 range is excluded. Getting the price to settle below 108.40 will open the target range of 107.35/55, while being able to settle above 109.37 will reopen the 110.38 target- the embedded price channel line of the higher timeframe.
The situation does not become clearer on the H4 chart. Even the emerging convergence of price with the Marlin oscillator may give a premature indication of a price reversal to the upside. We are waiting for the development of the situation.
