Quotes of the currency pair Dollar/Yen USD/JPY are ending the trading week near the 157.72 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 price growth and test the resistance level near the 160.65 area. Then, a rebound downwards and a continuation of the fall of the pair to the area below the 148.95 level.
USD/JPY Forecast December 30, 2024 — January 3, 2025
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 Wolfe Wave pattern. The cancellation of the fall option for the USD/JPY pair in the current trading week from December 30, 2024 — January 3, 2025 will be a strong growth and a breakout of the 162.75 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 165.65. Confirmation of the fall in the USD/JPY pair will be a breakout of the support area and closing of the price below the level of 154.45.
USD/JPY Forecast December 30, 2024 — January 3, 2025 suggests an attempt at correction and a test of the resistance level near the area of 160.65. From where we should expect the pair to continue to fall to the area below the level of 148.95. An additional signal in favor of the fall will be a test of the trend line on the relative strength indicator. Cancellation of the option of the pair’s decline will be strong growth and a breakout of the level of 162.75. This will indicate a continued rise in the pair with a potential target above the area of 165.65.
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