USD/JPY
Today marks the fourth day of consolidation for the USD/JPY pair ahead of the resistance level at 150.00. The Marlin oscillator's signal line broke above its own channel but is not trying to move significantly away from the zero line. However, the initial signs of an upcoming bullish breakthrough are already clear. This breakout may be weak, and it may require additional support to overcome the price channel line around 150.50. If the price consolidates above 150.50, the next target will be 151.95.
As we mentioned earlier, in the first week of November, we anticipate a medium- or even long-term decline. Therefore, we are cautious about the potential growth. Breaking below the support level at 148.50, along with the MACD line, may push the pair towards the 145.90 target.
On the 4-hour chart, the price is consolidating ahead of the 150.00 resistance level above the balance line. The Marlin oscillator is slightly below the zero line and has the potential to rise. Given the consolidation, we expect the price to rise at least to the nearest target of 150.50.
