FX.co ★ Forecast for USD/JPY on November 23, 2023

USD/JPY:

Amid the corrective rise of the last two days, the price reached the resistance of the MACD indicator line. This morning, the USD/JPY pair is falling. The Marlin oscillator, which is in the negative territory, has turned down.

For the oscillator, the last few days' upward movement has relieved tension on the way to the oversold area. Now it can resume the downward movement. The price will probably try to overcome Tuesday's low of 147.17. The target will be 145.08. The support at 148.18 is intermediate.

On the 4-hour chart, the price turned down as it approached the balance and MACD indicator lines. This emphasizes the corrective nature of the upward movement. The signal line of the Marlin oscillator turned down while in the uptrend territory. Soon it will return to the downtrend area. The nearest target is 148.18.