07.11.201905:36 Forex Analysis & Reviews: Forecast for USD/JPY on November 7, 2019

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

USD/JPY

After consolidating the price over the red line of the price channel, it (today in the Asian session) returns under it again. Accordingly, this upward exit is interpreted as false and the direction of the price will be downward, the immediate goal is to support the trend line in the region of 107.83. A divergence has formed on the Marlin oscillator.

The stock market was the main source of pressure on the pair. Yesterday, the S&P 500 grew by only 0.07%, the Dow Jones closed the session unchanged, Nasdaq fell 0.29%, while Russell 2000 -0.67%. The Japanese Nikkei 225 index in the Asian session lost 0.22%. It is very possible that the stock market will decline in the medium term, since, according to consulting companies, the investments of major investors in shares decreased by 25% in the third quarter. It is also reported that this situation was seen in the fourth quarter of 2007. Two goals are outlined for the USD/JPY pair: 107.83 and 107.45 below it.

The price has gone below the MACD line on the four-hour chart and is preparing to overcome the balance line, which it will most likely succeed, since the signal line of the Marlin oscillator is already in the territory of the bears.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.