Quotes of the currency pair Dollar Yen USD/JPY continue to move within the development of the bullish correction and the formation of the bearish model “Wolf Wave”. At the moment of forecast publication the USD/JPY exchange rate is 146.03. The moving averages indicate the presence of a short-term bearish trend in the pair. Prices broke through the area with downward signal lines, which indicates the pressure from the sellers of the US Dollar and the potential continuation of the price decline from the current levels. Within the framework of the Japanese Yen rate forecast for July 8, 2025, we should expect an attempt to develop a rise in quotes and a test of the resistance area near the level of 146.35. Further, the price rebound downward and the USD/JPY pair will continue to fall to the area below the level of 144.05.
USD/JPY Forecast Japanese Yen for July 8, 2025
An additional signal in favor of the USD/JPY currency pair decline will be a test of the resistance line on the relative strength indicator. The second signal will be a rebound from the upper boundary of the descending pattern “Wolf Wave. A strong growth and breakdown of 148.05 level will cancel the downside option of the currency pair Dollar Yen. This will indicate the breakdown of the resistance area and the continuation of the rise of the currency pair Dollar Yen. In this case, we should expect the continuation of the pair growth to the area above the level of 149.95. We should expect confirmation of the price fall with the breakdown of the support level and consolidation of the price under the level of 144.65, which will indicate the breakdown of the lower boundary of the “Wolf Wave” pattern and the beginning of the pattern realization with the targets below.
USD/JPY Forecast Japanese Yen for July 8, 2025 suggests an attempt to develop a bullish correction with a test of the resistance zone near the level of 146.35. Then, the continuation of the bearish impulse of quotes to the area below 144.05. In favor of the pair decline will be a test of the trend line on the indicator relative strength. Strong growth of quotes and breakdown of the 148.05 area will be a cancellation of the downside option. This will indicate the breakdown of the resistance level and continuation of the pair growth with a potential target above the 149.95 level.
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