Forecast for USD/JPY on Nov 21, 2019

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USD/JPY

THe dollar continues to fall against the yen. But it would be more accurate to say that this is amplified due to political tension in Hong Kong and the increased risk of failure of US-Chinese trade negotiations. On the daily chart, the price has consolidated below the red line of the price channel, the Marlin oscillator continues to decline in the negative zone. The immediate goal of the movement will be the MACD line at 107.96. Probably, the support will be overcome and the price will go further down. The subsequent goal of 107.52 is to support the green price channel.

On a four-hour chart, the price is kept from rising by the MACD blue line. The indicator line of balance is also actively involved in this. The Marlin oscillator in the decreasing trend zone. We are waiting for the price at the indicated level of 107.96.

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

Source:: Forecast for USD/JPY on November 21, 2019

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