Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move as part of the fall and have left the bullish channel. At the time of the publication of the forecast, the US Dollar to the Japanese Yen is 114.21. Moving averages indicate the presence of a short-term bearish trend for the pair. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the US Dollar and a potential continuation of the fall in prices already from current levels. As part of the forecast for the Japanese Yen on January 14, 2022, we should expect an attempt to develop a correction and test the resistance area near the level of 114.55. Further, the price bounces down and the USD/JPY pair continues to fall to the area below the level of 111.95.
USD/JPY Forecast Japanese Yen January 14, 2022
An additional signal in favor of the decline in the USD/JPY currency pair will be a test of the downtrend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option of falling the Dollar/Yen currency pair will be a strong growth and a breakdown of the level of 115.65. This will indicate a breakdown of the resistance area and the continuation of the rise of the Dollar/Yen pair. In this case, we should expect the pair to continue rising to the area above the level of 117.25. With the breakdown of the support area and the closing of quotes below the level of 113.95.
USD/JPY Forecast Japanese Yen January 14, 2022 suggests an attempt to test the resistance area near the level of 114.55. Then, the continuation of the fall of quotations to the area below the level of 111.95. In favor of the pair’s decline, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the fall option will be a strong growth and a breakdown of the area of 115.65. This will indicate a breakdown of the resistance level and continued growth in the pair with a potential target above the level of 117.25.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link