For Traders

Analytical Reviews

Technical analysis

26.11.202106:03 Forex Analysis & Reviews: Forecast for USD/JPY on November 26, 2021

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.

Yesterday, the dollar against the yen could not withstand the pressure from technical factors and this morning fell to the signal level of 114.71 (October 20 high). After the price drops below this level, the USD/JPY pair may continue to move to the magnetic point at 113.20 - to the point of intersection of the price channel line with the MACD line. The price can overcome the target, since below it is the second target level of 112.74, which is desirable for the bulls to work out if they intend to advance further - to create a false downward movement.

To complete the bearish picture, the signal line of the Marlin oscillator does not reach the negative area. Perhaps this will happen when the price goes below the signal level.

The price almost touched the MACD line on the four-hour chart. Settling below it, as well as below the level of 114.71, will become a condition for further price movement to the downside. The Marlin Oscillator is already in the negative zone.

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.