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USD/JPY
The yen has been consolidating within the 149.72-150.79 range for the 8th day. A break above will allow the price to work out the embedded line of the price channel around the 151.58 mark or the target level of 151.95 - the high of November 13th, 2023, which is located above it. We also observed an extended divergence between the price and the Marlin oscillator on the daily chart.
The price can easily break out of the range and fall, below the support of 149.72, and at the same time below the lower boundary of the dashed wedge. Marlin will already be in negative territory. This will open up the possibility of a medium-term decline. If the price continues to rise, a strong target level of 154.25 is already waiting for it, formed by another embedded line of the global price channel and the top of the dashed wedge.
On the 4-hour chart, the price has settled above the balance and MACD indicator lines. The Marlin oscillator is clearly experiencing difficulties with growth. In case the price falls below the MACD line (150.22), Marlin will be in a downtrend territory, and the nearest target of 149.72 will open up. Consolidation below it will allow the pair to fall to 148.82. If the price settles above 150.79, then it may reach the target of 151.58 soon.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
