The USD/JPY currency pair continues to move within the framework of a correction and descending channel. At the time of publishing the forecast, the exchange rate of USD to JPY is 149.68. Moving averages indicate a short-term bearish trend for the pair. Prices have broken through the area between the signal lines downwards, suggesting pressure from USD sellers and the potential for continued price decline from the current levels. In the forecast for the Japanese Yen’s exchange rate on February 28, 2025, we should expect an attempt to develop a decline and a test of the support area near 148.25. After that, a rebound upwards and the continuation of the USD/JPY pair’s rise to levels above 154.25.
USD/JPY Forecast Japanese Yen for February 28, 2025
An additional signal in favor of a rise in the USD/JPY currency pair will be a test of the support line on the Relative Strength Index (RSI). The second signal will be a rebound from the lower boundary of the reversal pattern “Head and Shoulders.” The rise scenario for the USD/JPY currency pair will be canceled by a decline and a break of the 147.35 level. This will indicate a breakout of the support area and the continuation of the USD/JPY pair’s decline. In this case, we should expect further decline in the pair to levels below 144.85. Confirmation of the price rise should come from a break of the resistance level and a closing above 151.25, which will indicate a breakout of the upper boundary of the descending channel.
USD/JPY Forecast Japanese Yen for February 28, 2025 suggests an attempt to rise in the price of the currency pair and a test of the support area near 148.25. Then, the continuation of the bullish momentum of the quotes to levels above 154.25. The growth of the pair will be supported by a test of the support line on the Relative Strength Index. The rise scenario will be canceled by a fall and a break of the 147.35 area. This will indicate a breakout of the support level and the continuation of the pair’s decline with a potential target below 144.85.
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