The yen strengthened by 30 points on Wednesday due to lower stock indices, which looks like a decrease in the USD/JPY pair on the chart. Yesterday, the S&P 500 fell 0.36%, while the Nikkei 225 is losing 1.22% today. The price went below the MACD line on the daily chart, while Marlin is declining. The target at 105.90 as support for the embedded line of the price channel is open. In case we overcome support, we expect the price at the second target of 105.40.
The price has consolidated under the red balance indicator line on the four-hour chart, and the Marlin oscillator line has entered the declining trend zone this morning. We are waiting for prices at the first target of 105.90.
The material has been provided by InstaForex Company – www.instaforex.com