USD/JPY:
Amid the broad weakness of the US dollar (the index is down by 0.68%), the greenback lost 43 pips against the yen on Thursday, reaching the target support level at 150.00. The signal line of the Marlin oscillator is approaching the border of the bearish territory. The situation will be resolved when the US employment data is released. The forecast for non-farm payrolls stands at 188,000 compared to 336,000 in September.
We believe that the September figure will be revised downwards, and the October index will turn out worse than expected, as the structural parameters do not show any improvement. Overall unemployment levels might even rise, officially standing at 3.8% in September. If the price stays below 150.00, it opens the way for further decline to 148.18. In this case, the MACD line (149.00) serves as intermediate support.
On the 4-hour chart, the price has climbed above the MACD line and is now consolidating above it. The Marlin oscillator is moving sideways in the bearish territory. The price is showing signs that the market is bracing for important fundamental news.
