The yen has not chosen a particular direction over the past three days, but it continues to move sideways. However, it was followed by the price moving out of the descending green price channel, and now this channel is canceled. The price will be guided by the blue embedded lines of the global hyperchannel again. The nearest resistance is the MACD line near 132.95, the nearest support is the price channel line near 127.27.
The main movement will be on Wednesday, when the Federal Reserve will announce its monetary policy decision. Right now the pair's growth is supported by the Marlin oscillator, whose signal line is testing the resistance of the upper limit of the descending lilac channel. Slightly lower you can find the lower limit of the ascending channel of azure color, it tends to keep the trend in a sideways direction.
On the four-hour chart, sideways movement is evident, even the MACD line is moving horizontally. The Marlin oscillator is also balancing on a neutral zero line. We're wait for the Fed meeting on Wednesday.
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