21.11.201808:13 Forex Analysis & Reviews: Forecast for USD / JPY for November 21, 2018

Long-term review

USD / JPY In the last yen review of the 19th, we considered the option of a false breakdown by the Krusenstern line on a daily scale. Such a false breakdown really took place, but with a delay of two days. And yesterday, the yen rose by 21 points against the fall of the US stock market by 1.82%. The optimism and perseverance of investors are explained by the fact that the fall was not systemic due to the collapse of several technology companies which pulled the market down. Today, the Chinese index China A50 is growing at 0.12%. We have to wait for the growing trend of the yen to consolidate. The first such sign will be the departure of the price above the nearest line of the price channel on the daily chart. There are only 10 points left.

Exchange Rates 21.11.2018 analysis

On the H4 chart, the Marlin oscillator is growing. The price tends to the Krusenstern line to the area of 113.65. With the overcoming of resistance, the second goal of 115.03 is opened - resistance of the price channel line on the daily chart.

Exchange Rates 21.11.2018 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Analytical expert
InstaForex Group © 2007-2021
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