USD/JPY
The yen continues its medium-term rally in a very technical manner. Even with strong movements, it manages to test each technical level. As of this morning, the price is consolidating above the 148.82 level.
The signal line of the Marlin oscillator is turning upward, suggesting a correction might be due. The target range of 150.83-151.23 is a convenient place for its completion. The MACD line is also located there on the hourly chart. Once the correction ends, we expect the price to move to 146.50, the March low.
On the 4-hour chart, Marlin leads the price upwards, trying to end the correction quickly. The MACD line, just above the target range of 150.83–151.23, reinforces this range.
