FX.co ★ Forecast for USD/JPY on November 27, 2020

USD/JPY

Yesterday and this morning, the yen showed the greatest reaction of the foreign exchange market in fears of the termination of negotiations between London and Brussels on the Brexit epic. This issue will be closed on Monday, and there is hardly any chance that the insoluble problem will be resolved on the last day.

The USD/JPY pair breaks under the support of 104.05, which opens its way to the target of 103.18, then to 102.35. The scenario of a breakout of a strong resistance of 104.73 is canceled. The daily scale shows that the Marlin oscillator is picking up the speed of decline.

On the four-hour chart, the price is breaking under the balance indicator line, which will shift the market mood to open sales of the dollar against the yen. The Marlin signal line has entered the negative trend zone. At the moment, we are anticipating the price at the nearest target 103.18.