The yen has been lingering suspiciously long at 104.62, forming a new consolidation on it. Such consolidation indicates the intention of the market to continue the decline, in this case, the target is to support the embedded line of the price channel in the area of 104.02. The signal for such a breakthrough will be the transition of the price under yesterday’s low of 104.42.
If the price still intends to continue to grow, then it must do it today, overcoming the top of yesterday’s 104.85. The Marlin oscillator on the four-hour chat is turning up, this sign preserves the probability of price growth.
But before reaching the main target of 105.33, the price will need to overcome two previous levels: the already specified 104.85 and 105.05 along the MACD line on H4. It is the MACD line that is now of the greatest importance; if the price cannot overcome it, then a trend reversal will occur with the intention of working out 104.02.
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.