For Traders

Analytical Reviews

Technical analysis

15.11.201905:48 Forex Analysis & Reviews: Forecast for USD/JPY on November 15, 2019

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

USD/JPY

The dollar was falling for five consecutive sessions against the yen, a correction was outlined for the pair only this morning. But if it does not take shape with the exit over the line of the red price channel (1.0867), then the price will consolidate under this line and the decline will continue with the immediate goal of 107.77. The double divergence on the Marlin oscillator has finally formed, the signal line of the oscillator in the negative trend zone.

On a four-hour chart, the price is below the indicator lines, the Marlin oscillator is decreasing, the general trend is only going down. Consolidating the price over the MACD line (108.86) will be able to develop, under other favorable circumstances, an increase with the immediate goal of 109.30 and if the level is surpassed to 109.86.

The main scenario assumes a price fall to 107.77 - MACD's line and support of the price channel on daily.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.