Quotes of the currency pair Dollar/Yen USD/JPY are ending the trading week with a fall near the 151.72 area. The moving averages indicate a bullish trend. Prices are testing the area between the signal lines, which indicates pressure from US dollar buyers and potential continued growth from current levels. At the moment, we should expect an attempt to develop price growth and a test of the resistance level near the 153.75 area. Then, a rebound downwards and a continuation of the fall of the pair to the area below the 141.85 level.
USD/JPY Weekly Forecast February 10 — 14, 2025
An additional signal in favor of the fall of the Dollar/Yen pair in the current trading week will be a test of the descending trend line on the relative strength indicator. The second signal will be a rebound from the lower border of the “Wedge” reversal pattern. The cancellation of the fall option for the USD/JPY pair in the current trading week of February 10 — 14, 2025 will be a strong growth and a breakout of the 161.55 area. This option will indicate a breakout of the resistance area and continued growth of the pair on Forex to the area above the level of 164.75. Confirmation of the fall in the USD/JPY pair will be a breakout of the support area and closing of the price below the level of 149.65.
USD/JPY Weekly Forecast February 10 — 14, 2025 suggests an attempt to develop a bullish correction and a test of the resistance level near the area of 153.75. From where we should expect a continuation of the fall of the pair to the area below the level of 141.85. An additional signal in favor of the fall will be a test of the trend line on the relative strength indicator. Cancellation of the option of the pair’s decline will be strong growth and a breakout of the level of 161.55. This will indicate a continuation of the rise of the pair with a potential target above the area of 164.75.
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