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This morning, the yen reached the 149.38 level, which coincides with the 23.6% Fibonacci retracement. This level is significant as it suggests a potential reversal into a new wave of decline.
However, the Marlin oscillator has settled in positive territory, indicating a pull toward the next retracement level of 38.2% at 151.30. The probability of growth is estimated at 60%.
On the four-hour timeframe, the current candle opened above the 149.38 level, with the oscillator rising in the positive zone. The oscillator's potential to reach the overbought area approximately corresponds with the price level of 151.30. It appears that the price may be heading in that direction.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
From what is seen on the 4-hour chart of the GBP/CAD cross currency pair, there appears to be a Divergence between the GBP/CAD price movement and the Stochastic Oscillator indicator
If we look at the 4-hour chart of the EUR/JPY cross currency pair which moving below the WMA (21), which also has a decreasing slope and the appearance of Convergence
EUR/USD is trading around 1.1437, below the Murray 6/8 level and within the uptrend channel formed on May 9. The instrument has an area where buyers have found it easier
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