Quotes of the currency pair Dollar/Yen USD/JPY are ending the trading week near the 140.88 area. The moving averages indicate a bullish trend. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers of the US dollar and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop a bullish price correction and a test of the resistance level near the 142.45 area. Then, a rebound downwards and a continuation of the fall of the pair to the area below the 129.25 level.
USD/JPY Forecast and Analysis September 16 — 20, 2024
An additional signal in favor of a decline in the Dollar/Yen pair this trading week will be a test of the trend line on the relative strength indicator. The second signal will be a rebound from the upper border of the descending channel. The cancellation of the fall option for the USD/JPY pair this trading week from September 16 — 20, 2024 will be a strong growth and a breakout of the 147.65 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 151.85. 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 139.05, which will indicate a breakout of the lower border of the bullish channel.
USD/JPY Forecast and Analysis September 16 — 20, 2024 suggests an attempt to test the resistance level near the area of 142.45. From where we should expect a continuation of the fall of the pair to the area below the level of 129.25. An additional signal in favor of the decline will be a test of the trend line on the relative strength indicator. The cancellation of the fall option for the pair will be strong growth and a breakout of the level of 147.65. This will indicate a continuation of the rise in the pair with a potential target above the 151.85 area.
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