After testing the price channel line on the daily chart, the USD/JPY pair has moved upward, likely entering a corrective phase following the price movement since January 10.
The nearest corrective level is at 149.38, which aligns with the 23.6% Fibonacci level. A breakout above this level would allow the price to continue its correction toward the 38.2% Fibonacci level, targeting 151.30.
On the four-hour chart, the price has moved above the MACD line, and the Marlin oscillator is in the uptrend area. We expect the price to rise toward the initial target level of 149.38.
The material has been provided by InstaForex Company – www.instaforex.comAfter testing the price channel line on the daily chart, the USD/JPY pair has moved upward, likely entering a corrective phase following the price movement since January 10. The nearest corrective level is at 149.38, which aligns with the 23.6% Fibonacci level. A breakout above this level would allow the price to continue its correction toward the 38.2% Fibonacci level, targeting 151.30. On the four-hour chart, the price has moved above the MACD line, and the Marlin oscillator is in the uptrend area. We expect the price to rise toward the initial target level of 149.38.The material has been provided by InstaForex Company – www.instaforex.com Read More
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