Quotes of the currency pair Dollar/Yen USD/JPY are ending the trading week near the 157.38 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 159.45 area. Then, a rebound downwards and a continuation of the fall of the pair to the area below the 147.75 level.
USD/JPY Forecast January 6 — 10, 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 “Wolf Wave” pattern. The cancellation of the fall option for the USD/JPY pair in the current trading week of January 6 — 10, 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 165.85. 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, which will indicate a breakout of the lower border of the bullish channel.
USD/JPY Forecast January 6 — 10, 2025 suggests an attempt at correction and a test of the resistance level near the area of 159.45. From where we should expect a continuation of the fall of the pair to the area below the level of 147.75. 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 continuation of the rise of the pair with a potential target above the area of 165.85.
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