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USD/JPY
On the daily scale of the USD/JPY pair, the price has consolidated under the indicator lines of balance and MACD, currently quoted in the range of two embedded lines of the price channel (107.05-108.00). The signal line of the Marlin oscillator has penetrated into the zone of negative values, into the territory of the downward trend. The price breaking the lower line of the price channel at 107.05 opens the target of 102.65. the price goes in the opposite direction, above 108.00, the target opens at 109.40 - the MACD line, which will also become slightly higher when the price rises.
On the four-hour chart, the trend is downward for all indicators, and there is also confirmation of signal and target levels of the higher scale.
Trading recommendations. With the price above 108.00, we buy USD/JPY with the target of 109.40, S/L 107.05. To consolidate the price under 107.05, we sell with the target of 102.65, S/L 108.00. Due to the high volatility of the market, long distances of restrictive stops, it is advised to work with low orders.
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