Trading of the yen was very intense during the Monday session at the conditional conciliatory statements of Donald Trump about the resumption of trade negotiations with China in a “calm environment”. The volatility range was 196 points and as a result, the dollar grew by 74 points, forming a convergence on the daily chart with the Marlin indicator.
The upper limit for yesterday’s volatility was the line of the price channel on the daily timeframe at 106.43.
Overcoming this level with consolidation will be a signal for further price growth with the first goal of 107.07, which was the coincidence point of the green price channel line and the MACD line. On a four-hour chart, the price is below the indicator lines. The Marlin oscillator is also in the lower zone. The scenario of a price increase is expected as the main outcome.
Origin: InstaForex
