27.11.202405:02 Forex Analysis & Reviews: Forecast for USD/JPY on November 27, 2024

Relevance up to 21:00 2024-11-27 UTC--5

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After a month and a half of unclear dollar growth against the yen and a consistently declining Marlin oscillator, the situation finally resolved with a significant shift yesterday and this morning. The signal line of the Marlin oscillator left its descending channel by breaking below its lower boundary, while the price breached the 153.60 support level with a pronounced black daily candlestick.

The nearest support level at 150.83 now appears ready to interact with the price.

The main target range lies between 148.14 and 148.50, where the MACD line is approaching.

On the H4 chart, the price has consolidated below the 153.60 level. This consolidation below the indicator lines occurred a week ago. The Marlin oscillator is gaining downward momentum in the downward trend zone.

We anticipate the development of bearish targets in the coming sessions.

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