The USD/JPY pair has chosen to move exactly along the descending price channel, having turned from its upper limit. Such adherence to the line chart makes it possible to determine the price's movement - the point of intersection of the median line of the price channel with one of the embedded lines of the global hyperchannel (blue lines) - the 124.05 mark. In this case, the intermediate target is the nearest blue line of the hyperchannel at the 127.27 mark.
The Marlin oscillator has moved into the red zone (downtrend). It will probably leave its own ascending trend channel and form some kind of downtrend. Probably also within the limits of a new downtrend channel (lilac).
An alternative scenario is as follows: since the price crossed yesterday's high (130.58), and settled above it, the next target will be 133.60 - the point of intersection of the embedded price hyperchannel line with the MACD indicator line.
On the four-hour chart, the price went under the MACD line, the Marlin oscillator continues to fall in negative territory. The downtrend prevails.
