Quotes of the currency pair US Dollar to Japanese Yen USD/JPY continue to move in the framework of growth and bull channel. At the time of publication of the forecast, the US dollar to Japanese yen is 130.57. Sliding average indicate the presence of a short -term bull tendency in pairs. Prices broke up the area between signal lines, which indicates pressure from the buyers of the US dollar and a potential continuation of prices from current levels. As part of the forecast of the Japanese yen course, on May 10, 2022, an attempt to develop a decrease and the support area near the level of 128.95 is expected. Further, the rebound of the price up and the continuation of the rise of the USD/JPY pair in the area above level 136.75.
USD/JPY Forecast Japanese Yen May 10, 2022
An additional signal in favor of the growth of the USD/JPY currency pair will be the test line of support on the relative force indicator. The second signal will be the rebound from the lower border of the bull channel. The cancellation of the increase in the currency pair of the dollar yen will be a fall and a breakdown of the level of 126.05. This will indicate a breakdown of the support area and the continuation of the fall of the pair of the dollar yen. In this case, it is worth expecting a continuation of the pair to reduce to the area below the level of 124.05. With the breakdown of the resistance area and the closure of the quotes above the level of 134.05, which will indicate the breakdown of the upper boundary of the bull channel.
USD/JPY Forecast Japanese Yen May 10, 2022 involves an attempt to support the support area near the level of 128.95. Then, the continuation of the growth of quotations in the area above level 136.75. In favor of the rise of the couple, the test line of the trend on the indicator of relative power will perform. The cancellation of the growth option will be the fall and breakdown of the area 126.05. This will indicate a breakdown of the support level and the continuation of the fall in pairs with a potential goal below the level of 124.05.
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