The Marlin oscillator has made a strong and prolonged effort to move into bearish territory. This morning, it successfully consolidated below the zero line. As a result, the likelihood of the price rising to the June 3 peak at 161.96 has significantly diminished.
A consolidation below 153.60 opens the first medium-term downside target at 150.83. However, it would be preferable for the price to first close the gap from this morning's market opening.
In the 4-hour timeframe, the Marlin oscillator is turning downward from the neutral zero line, while the price begins the day with an impulsive black candlestick.
If the price continues to fall below the 153.60 level, a sharp rebound in the next day or two could close the gap. Only in very rare cases does the yen leave two unclosed gaps, which typically occur during crisis situations—something that is not currently evident in the stock market.
