This morning, the yen reached the 149.38 level, which coincides with the 23.6% Fibonacci retracement. This level is significant as it suggests a potential reversal into a new wave of decline.
However, the Marlin oscillator has settled in positive territory, indicating a pull toward the next retracement level of 38.2% at 151.30. The probability of growth is estimated at 60%.
On the four-hour timeframe, the current candle opened above the 149.38 level, with the oscillator rising in the positive zone. The oscillator's potential to reach the overbought area approximately corresponds with the price level of 151.30. It appears that the price may be heading in that direction.
