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25.11.202405:00 Forex Analyse & Reviews: Forecast for USD/JPY on November 25, 2024

Relevance up to 21:00 2024-11-25 UTC--5

The Marlin oscillator has made a strong and prolonged effort to move into bearish territory. This morning, it successfully consolidated below the zero line. As a result, the likelihood of the price rising to the June 3 peak at 161.96 has significantly diminished.

Exchange Rates 25.11.2024 analysis

A consolidation below 153.60 opens the first medium-term downside target at 150.83. However, it would be preferable for the price to first close the gap from this morning's market opening.

In the 4-hour timeframe, the Marlin oscillator is turning downward from the neutral zero line, while the price begins the day with an impulsive black candlestick.

Exchange Rates 25.11.2024 analysis

If the price continues to fall below the 153.60 level, a sharp rebound in the next day or two could close the gap. Only in very rare cases does the yen leave two unclosed gaps, which typically occur during crisis situations—something that is not currently evident in the stock market.

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

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2024
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