Quotes of the currency pair Dollar/Yen USD/JPY are ending the trading week near the 142.14 area. The pair continues to move within the fall and the beginning of the “Triangle” pattern. 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 144.05 area. Then, a rebound downwards and a continuation of the fall of the pair to the area below the 133.65 level.
USD/JPY Forecast and Analysis September 9 — 13, 2024
An additional signal in favor of a decline in the Dollar Yen pair in the current 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 “Triangle” pattern. The cancellation of the fall option for the USD/JPY pair in the current trading week of September 9 — 13, 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 150.45. 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 140.35.
USD/JPY Forecast and Analysis September 9 — 13, 2024 suggests an attempt to test the resistance level near the area of 144.05. From where we should expect a continuation of the fall of the pair to the area below the level of 133.65. An additional signal in favor of the decline will be a test of the trend line on the relative strength indicator. 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 of the pair with a potential target above the area of 150.45.
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