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USD/JPY
The USD/JPY pair has closely approached the 61.8% Fibonacci level (157.00) on the daily chart. The signal line of the Marlin oscillator refuses to rise and lies horizontally, just above the zero line. The price has the potential to reach 158.00, but there is also a high probability of a downward reversal below 155.75 from the current level.
If the market does not receive unexpected negative news and the growth potential is exhausted, the yen might develop sideways movement within the Fibonacci level range of 156.03–157.00, where it could form some reversal pattern.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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