Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move as part of the fall and the downward channel. At the time of the publication of the forecast, the rate of the US Dollar to the Japanese Yen is 115.15. Moving averages indicate a short-term bearish trend for the pair. The prices have broken the area between the signal lines downward, which indicates pressure from the sellers of the US Dollar and a potential continuation of the fall in prices from the current levels. As part of the forecast for the Japanese Yen rate for January 13, 2022, we should expect an attempt to develop a correction and test the resistance area near the level of 115.25. Further, the price rebound downward and the continuation of the fall of the USD/JPY pair to the area below the level of 113.85.
USD/JPY Forecast Japanese Yen January 13, 2022
An additional signal in favor of reducing the USD/JPY currency pair will be a test of the downward trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the “Triangle” pattern. Cancellation of the option to drop the Dollar/Yen currency pair will be a strong growth and a breakdown of the level of 115.85. This will indicate a breakdown of the resistance area and a continued rise in the Dollar/Yen pair. In this case, we should expect the pair to continue to grow to the area above the level of 117.35. With the breakdown of the support area and closing of quotations below the level of 114.45.
USD/JPY Forecast Japanese Yen January 13, 2022 implies an attempt to test the resistance area near the 115.25 level. Then, the continuation of the fall in quotations to the area below the level of 113.85. A test of the trend line on the relative strength index (RSI) will be in favor of reducing the pair. Cancellation of the fall option will be a strong growth and a breakdown of the 115.85 area. This will indicate a breakdown of the resistance level and continued growth for the pair with a potential target above the level of 117.35.
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