USD / JPY pair
In the past two days, the USD/JPY pair fell by 60 points under pressure from investor's reaction on the ECB meeting, regarding the decision of EU on Brexit, as well as the publication of the Fed's minutes since the last monetary policy meeting. Now that all events are over and nothing has happened, investors can return to the recovery of purchases that began on March 25th.
On the daily chart, the price is above the MACD line which is above the price channel line, but below the indicator balance line. The Marlin oscillator is in the descending area.
On the four-hour chart, the price is below the balance lines and MACD. The marlin is also in the zone of decline and growth will be difficult. However, the price primarily needs to consolidate above the balance lines of both graphs. The signal level for them in the current situation is the same at 111.35. At this point, the marlin oscillator on H4 may be in the growth zone. Next, we are waiting for the movement to the resistance of the embedded line of the price channel in the area of 112.80.
The material has been provided by InstaForex Company - www.instaforex.com