The quotes of the USD/JPY currency pair continue to move within the framework of the development of the fall and the formation of the “Triangle” model. At the time of publication of the forecast, the US Dollar to Japanese Yen exchange rate is 151.80. Moving averages indicate a short-term bearish trend for the pair. Prices have broken through the area between the signal lines downwards, indicating pressure from US Dollar sellers and potential continuation of the price decline from current levels. As part of the Japanese Yen exchange rate forecast for February 20, 2025, we should expect an attempt to develop a bullish correction and a test of the resistance area near the level of 152.65. Next, a price rebound downwards and a continuation of the fall of the USD/JPY pair to the area below the level of 147.95.
USD/JPY Forecast Japanese Yen for February 20, 2025
An additional signal in favor of the fall 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 for the Dollar/Yen currency pair will be strong growth and a breakout of the level of 154.45. This will indicate a breakout of the resistance area and continued growth 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 level of 156.75. Expect confirmation of the price fall with a breakout of the support level and consolidation of the price below the level of 149.65, 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 20, 2025 suggests an attempt to test the resistance area near the level of 152.65. Then, a continuation of the fall in quotes to the area below the level of 147.95. A test of the resistance line on the relative strength indicator will be in favor of a decline in the pair. Cancellation of the fall option will be a strong growth and a breakout of the 154.45 area. This will indicate a breakout of the resistance level and continued growth in the pair with a potential target above the level of 156.75.
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