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USD/JPY
The USD/JPY pair is not even considering a decline. Investors, as indicated by their sentiments in business reports, do not believe in prolonged currency interventions by the Bank of Japan. We are sensitive to the mood of the Japanese central bank and, from a technical standpoint, expect an intervention not higher than 161.00. The upper boundary of the price channel and the Fibonacci 110.0% level converge at this level. The price could also retreat from the target level of 160.40.
We are also anticipating a correction in the stock market, which could be painful for bulls who are active. A drop will pull down the USD/JPY pair and yen cross rates. On the 4-hour chart, the Marlin oscillator has discharged from the overbought zone and is now ready to support the dollar in its battle against the yen with its own growth.
With this sentiment, the price can easily overcome the April 29 peak and move towards the target level of 160.40. However, both the price and Marlin can form a divergence from this level. If the price falls below the MACD line, below the mark of 158.85, this will be the first serious sign of a price reversal under consideration.
*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।
