FX.co ★ Forecast for USD/JPY on November 27, 2023

USD/JPY:

The USD/JPY pair has firmly tested the resistance of the MACD indicator line on the daily chart. On Friday, after consolidating below the balance indicator line (red moving average), it indicated a potential reversal to the downside.

The signal line of the Marlin oscillator has also turned downwards. The nearest bearish targets are 148.18, followed by 147.17, and then 145.08.

On the 4-hour chart, the price has also turned away from the MACD indicator line.

This morning, the price tested the MACD line, similar to the daily chart. The Marlin oscillator has turned downward. We are waiting for the progress of the downtrend.