At the end of yesterday, the situation with regard to the yen had practically not changed - the price continued to stay between the support of the trend line of the price channel at 113.22 and the MACD indicator line at 113.96. On December 15, the signal line of the Marlin Oscillator reversed from the zero line, now it moves horizontally below it - this is the market's preparation for a decline. Also, stock indices fell yesterday: S&P 500 -1.14%, Euro Stoxx 50 -1.30%, which helps the pair USD/JPY to develop a downward movement. The target of the decline at 110.80 is the price channel line of the higher timeframe.
On the four-hour scale, the price is strongly supported by the MACD indicator line. Accordingly, consolidating below it becomes the main condition for the formation of a medium-term fall. The direct signal will be the price crossing below the level of 113.22.
The Marlin Oscillator has crossed the border with the growth territory, but this may turn out to be a false signal.
