Stock indices weakened on Wednesday, due to good US economic data (January retail sales rose 3.8% vs. 2.0% expected, industrial production increased 1.4%), closing was mixed; S&P 500 0.09%, Dow Jones -0.16%, Nasdaq -0.11%. The USD/JPY pair also fell by 12 points. The day closed below the MACD indicator line on the daily scale chart. The signal line of the Marlin Oscillator continued its gradual decline, which strengthened the visual perception of the divergence. The probability of developing a downward movement towards the 113.33 target is increasing.
On the four-hour chart, the price has settled below both indicator lines, the Marlin Oscillator is in negative territory. Breaking the signal level of 115.27 (February 15 low) will be the beginning of a medium-term downward movement. A decline below the February 14 low at 115.02 will consolidate the downward trend.
