Yesterday, the USD/JPY pair once again tried to work out the resistance of the embedded line of the price channel at 111.98. The attempt failed, and today the technical pressure on the pair has become even greater, so the reversal may take place today. The signal line of the Marlin Oscillator is moving down on the daily chart, which shows the technical pressure. The first goal of the decline is the MACD line at the price of 109.25, overcoming the support opens the target range of 107.02/85 - the range of two embedded lines of the downward price channel.
After a double complex divergence forms on the Marlin oscillator on the four-hour chart, its signal line has penetrated into the negative trend zone. We are waiting for the development of a new downward movement.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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