Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
Over the past two days, the USD/JPY pair has reached an intermediate resistance level at 152.16 as it moves toward the target of 153.60. However, the situation suggests that the 153.60 target may not be achieved. This is indicated by the Marlin oscillator, which is rising ahead of the market and has approached the boundary of the growth territory.
The Marlin oscillator could interact with the zero line much earlier than the price reaches the target level. A reversal in price and the oscillator could occur at current levels, reflecting the moderate nature of this corrective growth within a strong downtrend (even without Marlin reaching the zero line). Additionally, the Bank of Japan's meeting is scheduled for next week.
On the 4-hour chart, the Marlin oscillator has been moving within a range (marked as a gray zone) for an extended period. After the price reached 152.16, the oscillator sharply turned downward. The oscillator is about to move down not only from the range but also from the positive area.
If the pair consolidates below the MACD Line at 150.07—though this level is still 160 pips away—confirmation of a price reversal into a new wave of decline would come. There is ample time before the BOJ meeting, allowing the price to consolidate above 150.83.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
