Quotes of the currency pair Dollar/Yen USD/JPY are ending the trading week near the 145.54 area. The pair continues to move within the bullish correction and bearish channel. 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 bearish price correction and a test of the support level near the 144.55 area. Then, an upward rebound and continued growth of the pair to the area above the 151.65 level.
USD/JPY Forecast and Analysis September 2 — 6, 2024
An additional signal in favor of the rise of 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 lower border of the bullish channel. The USD/JPY growth scenario can be cancelled in the current trading week of September 2 — 6, 2024, if it falls and breaks through the 140.65 area. This scenario will indicate a breakout of the support area and a continuation of the pair’s fall on Forex to the area below 136.65. The USD/JPY growth scenario can be confirmed by a breakout of the resistance area and a price close above 147.35, which will indicate a breakout of the upper boundary of the downward correction channel.
USD/JPY Forecast and Analysis September 2 — 6, 2024 suggests an attempt to test the support level near the 144.55 area. From where we can expect the pair to continue growing to the area above 151.65. An additional signal in favor of growth will be a test of the trend line on the relative strength indicator. The pair’s growth scenario can be cancelled by a fall and a breakout of the 140.65 level. This will indicate a continuation of the pair’s decline with a potential target below the 136.65 area.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
