Quotes of the currency pair Dollar/Yen USD/JPY are ending the trading week near the 153.45 area. The moving averages indicate a bullish trend. Prices have once again broken through the area between the signal lines upwards, which indicates pressure from US dollar buyers and potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a price increase and a test of the resistance level near the 155.25 area. Then, a downward rebound and a continuation of the fall of the pair to the area below the 143.85 level.
USD/JPY Forecast and Analysis December 16 — 20, 2024
An additional signal in favor of the fall of the Dollar Yen pair in the current trading week will be a test of the descending trend line on the relative strength indicator. The second signal will be a rebound from the upper border of the bearish channel. The cancellation of the USD/JPY fall option in the current trading week of December 16 — 20, 2024 will be a strong growth and a breakout of the 158.35 area. This option will indicate a breakout of the resistance area and continued growth of the pair on Forex to the area above the 162.65 level. The USD/JPY pair will be confirmed to fall by breaking through the support area and closing the price below 149.05, which will indicate a breakout of the lower boundary of the bullish channel.
USD/JPY Forecast and Analysis December 16 — 20, 2024 suggests an attempt at correction and a test of the resistance level near the 155.25 area. From where we should expect the pair to continue falling to the area below 143.85. An additional signal in favor of the fall will be a test of the trend line on the relative strength indicator. The cancellation of the pair’s decline option will be a strong growth and a breakout of the 158.35 level. This will indicate a continued rise in the pair with a potential target above the 162.65 area.
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