Yesterday, the dollar lost against the Japanese yen amid general pressure on the US currency, but today in the Asian session, it almost blocked yesterday’s decline, the price remains in the range of Monday. Technically, the reversal was expressed by the support of the balance line on the four-hour chart, which means maintaining the balance in growth. The signal line of the Marlin oscillator still went into the zone of trend decline, but the MACD line turns up, which also indicates an upward vector of market sentiment.
On the daily chart, the price went above the price channel line, the Marlin oscillator is growing, but still remains in the zone of decline. The existing potential of the dollar may be enough to reach the target level of 107.28 – the MACD line on the daily.
The material has been provided by InstaForex Company – www.instaforex.com