The Japanese yen strengthened by 30 points yesterday, slightly falling short of the support of the embedded price channel line (104.98). The price is currently trying to go back to the area above 105.30. But it is not enough for the price to only gain a foothold above this level; at present, the balance line (red indicator line) is acquiring a strong value, which kept the price from growing for the last week. The MACD line has been holding back growth since September.
All this poses a difficult task for the price to overcome both of these indicator lines and also gain a foothold above them. And this is so that we could reach the relatively near target of 106.25, formed by the embedded price channel line. The Marlin oscillator is still in a depressed mood; it has not yet returned to the positive zone. If the price goes beyond the area below the 104.98 level, the price may continue to decline to the target of 103.75 formed by the high of May 2013.
The material has been provided by InstaForex Company – www.instaforex.com
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.