USD/JPY fell yesterday, which means, the yen strengthened by 0.38%, supported by the declining US stock market that was down 1.16%. The price broke support at 104.05, now it’s aiming for the 103.18 level. Settling in the area under it opens the second target of 102.35. Marlin is declining in the negative zone, strengthening the downward potential.
The four-hour chart shows that the price settled below the 104.05 level. The signal line of the Marlin oscillator has reached the upper boundary of its own channel; now it is likely to reverse to the downside, which will further strengthen the local downward trend. We are waiting for the price near the nearest target of 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.