Quotes of the currency pair Dollar/Yen USD/JPY are ending the trading week near the 143.26 area. The moving averages indicate a bearish trend. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers of the US dollar and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop a bullish price correction and a test of the resistance level near the 145.05 area. Then, a rebound downwards and a continuation of the fall of the pair to the area below the level of 134.45.
USD/JPY Forecast and Analysis September 30 — October 4, 2024
An additional signal in favor of a decline in the Dollar Yen pair in the current trading week will be a test of the trend line on the relative strength indicator. The second signal will be a rebound from the upper border of the descending channel. The cancellation of the option of a fall in the USD/JPY pair in the current trading week of September 30 — October 4, 2024 will be a strong growth and a breakout of the 148.75 area. This option will indicate a breakout of the resistance area and continued growth of the pair on Forex to the area above the level of 152.65. The USD/JPY pair will be confirmed by a breakout of the support area and closing the price below 140.95.
USD/JPY Forecast and Analysis September 30 — October 4, 2024 suggests an attempt to test the resistance level near the 145.05 area. From where we should expect the pair to continue falling to the area below 134.45. An additional signal in favor of a decline will be a test of the trend line on the relative strength indicator. The cancellation of the pair’s fall option will be a strong growth and a breakout of the 148.75 level. This will indicate a continuation of the rise in the pair with a potential target above the 152.65 area.
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