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By the end of yesterday's trading session, the USD/JPY pair declined by 73 pips, testing the MACD indicator line with a lower shadow. It's clear that an attempt to consolidate within the 145.08–145.91 range was made, but the effort was premature due to the presence of the MACD line within this zone.
In about 24 hours, the MACD line may move below the lower boundary of the range, allowing the price to prepare for a breakout toward the target level at 143.45. The signal line of the Marlin oscillator has broken through the 23.6% retracement level, indicating that the bears have support.
Overall, we expect a breakout of the 145.08–145.91 range within two days, although there's a slight chance it could happen immediately, as it did on April 10 (marked by a green checkmark). Therefore, we are closely monitoring the market's developments.
The price has consolidated below the MACD line on the four-hour chart, and the Marlin oscillator has settled into bearish territory. As long as the opening gap remains unfilled, the overall price trajectory remains downward. After a brief consolidation, the price will likely continue toward the target level of 143.45.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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As long as the euro consolidates below the 6/8 Murray, bearish pressure will continue to prevail, and the instrument could reach the price levels seen when the Nonfarm Payrolls were
Conversely, if gold breaks the 200 EMA around 3,343 and consolidates above this area, breaking the downtrend channel formed since early August, this will be seen as a clear signal
On Wednesday, EUR/USD continued to trade sideways. Even the weak movement seen over the past week is gradually fading. Above the resistance zone of 1.1637–1.1645, the bulls still maintain control
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