FX.co ★ Forecast for USD/JPY on November 19, 2024

After reaching the target level of 156.79 on Friday, the pair showed no intention of resuming growth on Monday, as reflected by a candlestick with a small body. This morning, however, the price is signaling an intention to continue its decline.

If the price consolidates below 153.60, it will likely target 150.83. The Marlin oscillator's signal line has exited its range to the downside, moving below the zero line into bearish territory. Marlin now aligns with the overall bearish trend.

The price has settled below the MACD line and the balance line on the H4 chart. The Marlin oscillator continues to develop within bearish territory. We anticipate further downward movement for USD/JPY in the short term.