USD / JPY pair
In the last two trading days, the yen fell to our target range of 109.38 / 79 and there was a very weak sign of a reversal this morning. This feature is the emerging price convergence with the Marlin oscillator. The situation is also fragile because the Japanese trading floors are closed until Friday. At other sites today, there is a significant decline: China A50 -1.20%, Kospi SEU -1.44%, IDX Composite -0.25% and Nifty 50 -0.17%.
A break of the current range will drop the yen to the level of 108.66, which was the minimum of May 4 last year. It will be difficult for a reversal if it takes place since before the price there will be multiple technical resistances in this growth.
The material has been provided by InstaForex Company -
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