The Market Has No Signs Of An Increase In The USD/JPY Pair

Market Trends and Currency Positioning: USD Net Short Position, Euro and Pound Analysis - 22.08.2023

The USD/JPY pair is consolidating in a wide range below the price channel resistance line, below 145.00. If the price still has enough strength to overcome the price channel line of the higher (monthly) timeframe, then the pair will become enthusiastic for growth, and here the 147.05 target is the next embedded line of the global price channel. But the market has no prerequisites for such enthusiasm.

Exchange Rates 15.09.2022 analysis

The price has already formed a weak divergence with the Marlin Oscillator, and if this is not a trend reversal, then it is a prerequisite for a deeper correction. Its first target at 141.14 is the underlying line of the price channel. Breaking the support opens the second target at 139.20, near which is the MACD indicator line.

Exchange Rates 15.09.2022 analysis

The price settled below the MACD line on the four-hour scale, the Marlin Oscillator is in the negative area, the scenario for the currency pair's decline has an advantage. First target at 141.14.

 

 

 

Relevance up to 04:00 2022-09-16 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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Market Trends and Currency Positioning: USD Net Short Position, Euro and Pound Analysis - 22.08.2023

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