Quotes of the currency pair Dollar/Yen USD/JPY are ending the trading week near the 152.26 area. The moving averages indicate a bullish trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from US dollar buyers and potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a price increase and a test of the resistance level near the 153.65 area. Then, a rebound downwards and a continuation of the fall of the pair to the area below the 146.15 level.
USD/JPY Forecast and Analysis November 11 — 15, 2024
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 bullish channel. The cancellation of the USD/JPY fall option in the current trading week of November 11 — 15, 2024 will be a strong growth and a breakout of the 158.85 area. This option will indicate a breakout of the resistance area and continued growth of the pair on Forex to the area above the 160.65 level. The USD/JPY pair will be confirmed to fall by breaking the support area and closing the price below 147.25, which will indicate a breakout of the lower boundary of the bullish correction channel.
USD/JPY Forecast and Analysis November 11 — 15, 2024 suggests an attempt to test the resistance level near the 153.65 area. From where we should expect the pair to continue falling to the area below 146.15. An additional signal in favor of the fall will be a test of the trend line on the relative strength indicator. The cancellation of the pair’s decline option will be a strong growth and a breakout of the 158.85 level. This will indicate a continued rise in the pair with a potential target above the 160.65 area.
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