Quotes of the currency pair Dollar/Yen USD/JPY are ending the trading week near the 155.27 area. The moving averages indicate a bullish trend. Prices have 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 test the resistance level near the 160.05 area. Then, a rebound downwards and a continuation of the fall of the pair to the area below the 146.25 level.
USD/JPY Forecast and Analysis November 18 — 22, 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 fall option for the USD/JPY pair in the current trading week of November 18 — 22, 2024 will be strong growth and a breakout of the 163.05 area. This option will indicate a breakout of the resistance area and continued growth of the pair on Forex to the area above the 166.85 level. The USD/JPY pair will be confirmed by a breakout of the support area and closing the price below 152.05, which will indicate a breakout of the lower boundary of the bullish correction channel.
USD/JPY Forecast and Analysis November 18 — 22, 2024 suggests an attempt to test the resistance level near the 160.05 area. From where we should expect the pair to continue falling to the area below 146.25. 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 163.05 level. This will indicate a continuation of the pair’s rise with a potential target above the 166.85 area.
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