Bitcoin price may be stealing the show soon. We could say that this week Bank of Japan decision draws more attention than usually

USD/JPY Pair: Waiting For The Development Of An Upward Trend

On Friday, the USD/JPY pair reached the resistance of the embedded price channel line (145.29), and this morning it went above it. Now the price has opened the 147.30 target, determined by the upper embedded line of the price channel.

Exchange Rates 10.10.2022 analysis

Currently, the line of the Marlin Oscillator is moving sideways in the positive area, just above the zero line. When the price reaches the level of 147.30 with the oscillator, a divergence may form, which will become a signal and a condition for the trend to reverse into a deep correction (or a reversal of the medium-term trend).

Exchange Rates 10.10.2022 analysis

The price has already consolidated above the 145.29 level on the 4-hour chart, which is also the October 3rd high. Marlin is in the positive area. We are waiting for the development of an upward trend.

 

Relevance up to 04:00 2022-10-11 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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Bitcoin price may be stealing the show soon. We could say that this week Bank of Japan decision draws more attention than usually

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