The quotes of the USD/JPY currency pair continue to move within the framework of the decline development and the formation of the “Triangle” model. At the time of the forecast publication, the US Dollar to Japanese Yen exchange rate is 151.82. The moving averages indicate the presence of a short-term bullish trend for the pair. Prices have broken through the area between the signal lines downwards, which indicates pressure from US Dollar sellers and a potential continuation of the price decline from the current levels. As part of the Japanese Yen exchange rate forecast for February 11, 2025, we should expect an attempt to develop a bullish correction and test the resistance area near the 152.45 level. Then, a price rebound downwards and a continuation of the USD/JPY pair fall to the area below the 148.65 level.
USD/JPY Forecast Japanese Yen for February 11, 2025
An additional signal in favor of the decline 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 “Triangle” pattern. The cancellation of the fall option of the Dollar/Yen currency pair will be a strong growth and a breakout of the 153.65 level. This will indicate a breakout of the resistance area and a continuation of the rise of the Dollar/Yen currency pair. In this case, we should expect the pair to continue growing to the area above the 156.05 level. We should expect confirmation of the price fall with a breakout of the support level and the price consolidation below the 150.65 level, which will indicate a breakout of the lower border of the “Triangle” pattern and the beginning of the implementation of the pattern with targets below.
USD/JPY Forecast Japanese Yen for February 11, 2025 suggests an attempt to test the resistance area near the 152.45 level. Then, the quotes will continue to fall to the area below 148.65. The test of the resistance line on the relative strength indicator will be in favor of the pair’s decline. The cancellation of the fall option will be a strong growth and a breakout of the 153.65 area. This will indicate a breakout of the resistance level and continued growth for the pair with a potential target above 156.05.
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