Forecast for USD/JPY on November 9, 2021

Yesterday, the USD/JPY pair reached the support of the embedded price channel line (green). Consolidation below it opens the way for the price to the MACD line in the area of 111.88. The Marlin Oscillator is aggressively set to further decline.

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There are no reversal signs on the four-hour scale chart for the currency pair in question. Yesterday, US stock indexes added around 0.1%, in today's Asian session the indices of Australia, China and Japan also show insignificant growth. The dollar has no external support in the fight against the yen, we expect the pair to decline to the specified target of 111.88.

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

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