Against the backdrop of a general strengthening of the dollar (0.49%), the USD/JPY pair rose by 82 points yesterday. The dollar's rise was so convincing that even the fall of the US stock index S&P 500 by 1.26% could not slow down the pair's growth. This morning the Japanese Nikkei 225 is down 2.05%. The case may be close to the fact that USD/JPY will form a triangle on a daily scale. Another possible reversal scenario could be an increase in price from current levels either to the first target at 125.00 or to the second target at 125.85 with the formation of a divergence.
The price has settled above the MACD indicator line on the four-hour chart, the Marlin Oscillator is growing in the positive area. The local trend is strong, there may not be a triangle, but there will be a development of the resistance at 125.00 - the price channel line of the monthly timeframe.
