Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move in the framework of the correction and a bull canal. At the time of publication of the forecast, the US dollar rate to Japanese Ien is 113.99. The moving averages indicate the presence of a short bullish trend in a pair. Prices went down from the area between the signal lines, which indicates pressure from the US dollar buyers and the potential continuation of the fall in prices already from current levels. Within the framework of the Japanese yen course forecast on January 26, 2022, it is worth an attempt to develop a decline and test of the support area near the level 113.65. Next, rebound price upwards and continued climbing a pair of USD/JPY to the region above level 115.85.
USD/JPY Forecast Japanese Yen January 26, 2022
An additional signal in favor of the growth of the USD/JPY currency pair will be the test of the support trend on the relative force indicator. The second signal will be a rebound from the lower border of the bovine canal. Cancellation of the growth rate of the currency pair of the dollar isna will be the drop and breakdown of level 112.85. This will indicate the support area and continue the fall of the Dollar of the Yen. In this case, we should expect to continue to reduce the pair in the area below level 110.45. With the breakdown of the resistance areas and the closure of quotes above level 114.75.
USD/JPY Forecast Japanese Yen January 26, 2022 implies an attempt to test the area of support near level 113.65. Then, the continuation of the growth of quotes to the region above level 115.85. In favor of the lift of the pair will perform a trend line test on the relative force indicator. The abolition of the growth rate will be the fall and breakdown of the region 112.85. This will indicate the support level and continue to reduce the pair with a potential goal below 110.45.
