13.11.202305:51 Forex Analysis & Reviews: Forecast for USD/JPY on November 13, 2023

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USD/JPY:

The yen is persistently heading towards its target at 151.95. If this results in the price consolidating above the target level, the new target will be 153.20, representing another embedded line in the price channel. The Marlin oscillator's signal line is gradually turning down, increasing the risk of a price reversal as it approaches the 153.20 target. The growth is expected to be slow.

Tomorrow, the lower house of the U.S. Congress will vote on a partial and proportional budget financing project – transportation, energy, and military construction will be funded until January 19, and other sectors until February 2. Essentially, this implies the acknowledgment of a "soft" shutdown, but let's see how the markets will react to this.

On the 4-hour chart, the Marlin oscillator lies horizontally against the background of a rising price. An attempt to overcome 151.95 may be unsuccessful. However, the pair will continue to move up for now.

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