Forecast for USD/JPY on November 30, 2020

USD/JPY

The Japanese yen is strengthening against the dollar for the fifth day, which shows that it follows the 7-month downward trend. This morning the price has overcome the technical support of 104.05, and now the price is facing the 103.18 level - the November 6 low, which is the nearest target. The Marlin oscillator turned to the downside from the border of the growth area. The quote could fall further towards the second target of 102.35.

analytics5fc45e1abadd5.jpg

The four-hour chart shows that the price has settled below the red balance indicator line, the Marlin oscillator is in the downward trend zone. The local trend is steady and decreasing. We are waiting for the pair to fall towards the designated target.

analytics5fc45e27a1e42.jpg

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