The Japanese yen finally decided to follow in line with the dollar, that is, to weaken along with the counter-dollar currencies, increasingly abandoning the role of a safe-haven currency. In the context of geopolitical tensions and global economic upheavals, the yen can no longer cope with such functions. Yesterday, against the background of the fall of the US market by 3.56% (S&P 500), the USD/JPY pair grew by 0.82%.
On the daily chart, the signal line of the Marlin Oscillator did not go under the lower border of its own descending channel, eventually forming an upward reversal from it. Now the price has two nearest targets, determined by the embedded lines of the monthly price channel: 131.12, 132.38.
On a four-hour scale, the price is growing above the balance (red) and MACD (blue) indicator lines, the Marlin Oscillator is growing in the positive area. The situation is ascending on both time scales, we are waiting for the development of further growth.
