The USD/JPY currency pair continue to move within the development of a decline and a descending channel. At the time of publication of the forecast, the US Dollar to Japanese Yen exchange rate is 142.95. 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 16, 2025, we should expect an attempt to develop a decline and a test of the support area near the level of 144.25. Next, a rebound in price upwards and continued growth of the USD/JPY pair to the area above the level of 150.85.
USD/JPY Forecast Japanese Yen for April 16, 2025
An additional signal in favor of the growth of the USD/JPY currency pair will be a test of the resistance 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 fall option for the Dollar Yen currency pair will be a strong growth and a breakout of the 144.75 level. This will indicate a breakout of the resistance area and continued growth of the Dollar Yen currency pair. In this case, we should expect the pair to continue to rise to the area above the 146.75 level. We should expect confirmation of the price fall with a breakout of the support level and consolidation of the price below the 142.05 level.
USD/JPY Forecast Japanese Yen for April 16, 2025 suggests an attempt to grow the price of the currency pair and a test of the resistance area near the 144.25 level. Then, the continuation of the development of the bearish impulse of quotes to the area below the 150.85 level. The test of the resistance line on the relative strength indicator will be in favor of the growth of the pair. The cancellation of the fall option will be a strong growth and a breakout of the 144.75 area. This will indicate a breakout of the resistance level and continued growth for the pair with a potential target above the level of 146.75.
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