empty
 
 
13.11.2023 05:51 AM
Forecast for USD/JPY on November 13, 2023

USD/JPY:

The yen is persistently heading towards its target at 151.95. If this results in the price consolidating above the target level, the new target will be 153.20, representing another embedded line in the price channel. The Marlin oscillator's signal line is gradually turning down, increasing the risk of a price reversal as it approaches the 153.20 target. The growth is expected to be slow.

This image is no longer relevant

Tomorrow, the lower house of the U.S. Congress will vote on a partial and proportional budget financing project – transportation, energy, and military construction will be funded until January 19, and other sectors until February 2. Essentially, this implies the acknowledgment of a "soft" shutdown, but let's see how the markets will react to this.

This image is no longer relevant

On the 4-hour chart, the Marlin oscillator lies horizontally against the background of a rising price. An attempt to overcome 151.95 may be unsuccessful. However, the pair will continue to move up for now.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback