USD/JPY Forecast and Analysis April 6 — 10, 2020


Top Forex Brokers

Quotes of the pair USD/JPY US Dollar to Japanese Yen complete the trading week near the area of ​​108.43. The pair continues to move within the correction and the downward channel. Moving averages indicate a bearish trend. Prices returned below the area between the signal lines down, indicating pressure from sellers of the US Dollar. At the moment, we should expect an attempt to develop a correction and test the resistance level near the area of ​​110.05. Then, the rebound and the continuation of the fall of the pair in the area below the level of 102.75.

USD/JPY Forecast and Analysis April 6 — 10, 2020

A test of the trend line on the relative strength index (RSI) will be in favor of the fall of the Dollar/Yen pair. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the fall of the USD/JPY pair in the current trading week April 6 — 10, 2020 will be a strong growth and a breakdown of the area of ​​112.35. This option will indicate a breakdown of the resistance area and continued growth of the Forex pair to the area above the level of 115.95. A confirmation of the fall for the pair USD/JPY will be a breakdown of the support area and closing below 106.55.

USD/JPY Forecast and Analysis April 6 — 10, 2020

Among the important news from Japan that may have an impact on the Japanese Yen, it is worth highlighting: Speech by Bank of Japan (BoJ) Governor Kuroda Speech Chairman.

USD/JPY Forecast and Analysis April 6 — 10, 2020 implies an attempt to test the resistance level near the area of ​​110.05. Where can we expect the pair to continue falling to the area below the level of 102.75. An additional signal in favor of reducing will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown level of 112.35. This will indicate a continued rise of the pair with a potential target above 115.95.


Join our Telegram Channel


Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link

Post Comment