FX.co ★ Forecast for USD/JPY on November 9, 2020

USD/JPY

Last Friday, the yen retested the target level of 103.75 from below, and then rolled back a little. US stock indexes are falling correctively, making it easier for the yen to strengthen. The nearest target is 102.75. The Marlin oscillator has grown a little, but its readings are not enough to determine the market reversal, as a price correction is possible, so a correction of the indicator is also possible.

Meanwhile, the situation is completely decreasing on the four-hour chart. Here, the Marlin oscillator is also growing, but within its own discharge before further expected decline. After consolidation, the pair is expected to decline to the targets of 102.75, 101.95-102.00.