Forecast for USD/JPY on November 17, 2021

Yesterday the USD/JPY pair gained 68 points and successfully surpassed the target level of 114.46. Now it becomes a support, and the price should continue to move within the target range of 115.80-116.15. The target range is specified by the January low and the August 2015 low. The Marlin Oscillator is developing in a positive area, in a growing trend zone.

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On the four-hour chart, the indicators keep the growing sentiment. The MACD line is turning upwards - this is an indicator of the medium-term direction. The Marlin Oscillator is growing in the positive area. We are waiting for the price to rise to the target range of 115.80-116.15.

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The material has been provided by InstaForex Company - www.instaforex.com

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