Forecast for USD/JPY on November 24, 2021

Over the past 24 hours, the USD/JPY pair has had difficulties in moving to the target range of 115.80-116.15. US stock indices closed mixed yesterday (Dow Jones 0.55%, Nasdaq -0.50%, Russell 2000 -0.08%), Asian indices are almost all in the red today. Perhaps this is just a short-term correction of the stock markets, but how not to miss a more serious fall... The technical signs of such a fall have long been ripe for stock indices.


On the daily scale of the USD/JPY pair, no reversal has yet been observed, except that the Marlin Oscillator has bent down.

But there are already reversal signs on the four-hour timeline. This is a double price divergence with an oscillator. The reversal will be confirmed when the price moves below the signal level 114.46 - the high on November 1. A departure under this level will automatically mean a decrease in the price under the MACD indicator line. The 113.16 target will open - support for the trend line, marked on the daily chart in green, to which the MACD line of the same scale is aiming for.


The material has been provided by InstaForex Company -

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