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.

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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.

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

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