USD/JPY
After the yen hit the target level of 150.70 with a strong movement, it has pulled back from this mark both yesterday and this morning. The divergence between the price and the Marlin oscillator on the daily chart suggests that this pullback is not a correction but a reversal into a medium-term decline, below the level of 145.99.
However, if the pair overcomes the resistance at 150.70, the price will reach the embedded line of the global channel around the 151.52 mark. Perhaps the price could breach the line to hit the level of 151.95. A rise above 151.95 will open an alternative scenario to the target level of 154.25.
On the 4-hour chart, an unclear double divergence has formed. Overcoming the support level of 149.72 will open the way for the pair to attack the MACD line, which has reached the target level of 148.92 today. If the price consolidates below this level, it opens up broad prospects for further decline.
