By now, the second day of the yen's consolidation in the closing area on September 9th is expiring. The price is probably preparing to overcome the resistance at 144.25 in order to reach the high target at 147.05. During this consolidation, the Marlin Oscillator left the overbought zone and may continue to grow.
To deepen the correction, the price needs to overcome the support at 141.10 - then the 139.20 target will be available. But even in this case, the decline will be considered as corrective. Overcoming 139.20, and with it the MACD line, will send the price into a medium-term downward movement.
On a four-hour scale, the price is consolidating under the MACD line, at the Fibonacci level of 238.2%. If the price rises above this line (142.97), the price will once again attack the target level of 144.25, located between the reaction levels of 261.8-271.0%.
Relevance up to 04:00 2022-09-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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