The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
USD/JPY
This morning, Tokyo's core CPI data showed a decline in inflation for the June estimate: the core index dropped from 3.6% year-over-year (y/y) to 3.1% y/y (with a forecast of 3.3% y/y), while the overall index stood at 3.1% y/y, compared to 3.4% y/y in May. The latest figures diminished investors' confidence in the Bank of Japan's strong commitment to raise interest rates, which also slowed the yen's appreciation seen yesterday.
However, this slowdown appears to be short-lived. The Marlin oscillator has shifted into negative territory, and in recent days, the price has already managed to break through the balance line support (red moving average), gradually increasing interest in selling the dollar. A break below yesterday's low of 143.77 — which was a significant level back in 2024 — will open the path toward the target range of 142.13–142.40. Beyond that lies a potential test of the MACD line at 141.50.
On the four-hour chart, the latest impulsive decline began when the price reversed from the MACD line and the Marlin oscillator simultaneously turned down from the zero line. These moments are marked by arrows. The MACD line has turned downward. The overall trend remains bearish, and we anticipate it will continue to develop.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
