The yen strengthened by 37 points on Tuesday, this morning the 104.05 target level was reached. Now we are waiting for the price to overcome this level so that the pair could fall to the 103.18 target . The advantage of just such a scenario is indicated by the Marlin oscillator, whose signal line is decreasing along a steep trajectory.
The four-hour chart shows that the price is developing under both indicator lines, and the MACD line marks its own downward reversal, which reinforces the downward short-term trend. The Marlin oscillator is declining in its own channel. There are no signs of a price reversal yet. We are waiting for the price to settle below the 104.05 level and for it to move to 103.18.
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.