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Forecast for USD/JPY on November 25, 2021

The US dollar approached the target level of 115.80 even more yesterday, but the signal line of the Marlin Oscillator starts to turn down. This is a sign that the 115.80 level will not be overcome, the price will return to the nearest strong support. This support is provided by the price channel line of the weekly timeframe at 113.20. The MACD indicator line of the daily scale is approaching it.


On the H4 chart, there is still a double price divergence with an oscillator. It can become horizontal if the price has reached the target level of 115.80, but there are also horizontal divergences, that is, the reversal sign will be valid. Confirmation of the reversal will be the price drift under the MACD line, below 114.62.


The material has been provided by InstaForex Company -