The USD/JPY currency pair continue to move within the framework of the development of the decline and the formation of the bullish model “Wolfe Wave”. At the time of publication of the forecast, the US Dollar to Japanese Yen exchange rate is 145.22. Moving averages indicate the presence of a short-term bearish trend for the pair. 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 in prices from the current levels. As part of the forecast of the Japanese Yen exchange rate for April 11, 2025, we should expect an attempt to develop a decline and a test of the support area near the level of 144.25. Then, an upward price rebound and continued growth of the USD/JPY pair to the area above the level of 150.85.
USD/JPY Forecast Japanese Yen for April 11, 2025
An additional signal in favor of the growth of the USD/JPY currency pair will be a test of the support line on the relative strength indicator. The second signal will be a rebound from the lower border of the bullish “Wolfe Wave” pattern. The option of the rise of the Dollar Yen currency pair will be cancelled by a fall and a breakout of the 143.25 level. This will indicate a breakout of the support area and a continuation of the fall of the Dollar Yen currency pair. In this case, we should expect a continuation of the decline of the pair to the area below the 140.05 level. We should expect confirmation of the price growth with a breakout of the resistance level and a price consolidation above the 147.85 level.
USD/JPY Forecast Japanese Yen for April 11, 2025 suggests an attempt to reduce the price of the currency pair and a test of the support area near the 144.25 level. Then, the continuation of the development of the bullish impulse of quotes to the area above the 150.85 level. The pair’s growth will be supported by a test of the support line on the relative strength indicator. The upside option will be cancelled by a fall and a breakout of the 143.25 area. This will indicate a breakout of the support level and a continuation of the fall in the pair with a potential target below the 140.05 level.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
