Yesterday, the dollar showed growth of more than a hundred points against the yen and almost completed the target level of 125.85. This level is determined by the May 2015 high, and since the level is quite old, when interpreting the chart through logarithmic or semi-logarithmic scales, this level may be overlapped. But even with a linear consideration, the price is in the target range between the two green lines of the price channel of the weekly timeframe.
The price with the Marlin Oscillator is ready to form a divergence. Consolidating under the price channel line, below 125.04, will confirm yesterday's peak and the trend will turn into a deep correction. The purpose of such a movement is also determined by two lines of the green price channel: 119.57-120.00. The MACD indicator line tends to this range.
On the H4 chart, the price is consolidating in the range of 125.04/85, the Marlin Oscillator has reversed and is striving to return to the territory of the downward trend. But while this is not the case, we are waiting for confirmation of the primary reversal technical signs. The final confirmation of the new downward trend will be the price drop below the MACD line (124.40).