empty
 
 
21.11.2024 04:49 AM
Forecast for USD/JPY on November 21, 2024

The pair's sharp rebound from the 153.60 support level, followed by a 230-pip price increase, has not resulted in a reversal toward breaking above 156.79.

This image is no longer relevant

This two-day rally lacked confirmation from the Marlin oscillator, which entered bearish territory after exiting its consolidation range earlier this morning. The price is already approaching yesterday's opening level, targeting 153.60. A breakdown below this level will pave the way toward the next support at 150.83.

This image is no longer relevant

On the H4 chart, the price is sliding back below the balance and MACD lines. Simultaneously, the Marlin oscillator is moving further into bearish territory. The synchronization of these bearish signals increases the likelihood of a sharp decline in the pair.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback