On Monday, the Japanese yen crossed the resistance of the 137.08 monthly embedded price channel line and headed towards 138.75. Surpassing this level sets the target range at 140.05/35 , which was the low of the 22nd of September.
The prospect of a double convergence with the Marlin oscillator never materialized. The signal line of the oscillator has already broken into the growth area. The main scenario is an upward movement in the short-term.
On the four-hour chart, the price has settled above the indicator lines, above 137.08, and now it continues to rise. The momentum for growth was set by a synchronous price reversal from the MACD line and the signal line of Marlin oscillator from the zero neutral line (arrows).
