The USD/JPY currency pair continue to move within the framework of the correction development and the formation of the “Head and Shoulders” reversal pattern. At the time of the forecast publication, the US Dollar to Japanese Yen exchange rate is 149.94. Moving averages indicate the presence of a short-term bearish trend for the pair. Prices are again testing the area between the signal lines, 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 March 21, 2025, we should expect an attempt to develop a fall and a test of the support area near the level of 147.65. Then, an upward price rebound and continued growth of the USD/JPY pair to the area above the level of 152.45.
USD/JPY Forecast Japanese Yen for March 21, 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 channel. The decline and breakout of the 146.85 level will cancel the growth option of the Dollar/Yen currency pair. 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 the pair to continue to decline to the area below 145.05. We should expect confirmation of the price growth with a breakout of the resistance level and price consolidation above 150.65, which will indicate a breakout of the upper border of the Head and Shoulders reversal pattern and the beginning of the implementation of the pattern with targets at the top.
USD/JPY Forecast Japanese Yen for March 21, 2025 suggests an attempt to reduce the price of the currency pair and test the support area near the 147.65 level. Then, the continuation of the development of the bullish impulse of quotes to the area above the 152.45 level. The pair’s growth will be supported by a test of the support line on the relative strength indicator. The growth option will be cancelled by a fall and a breakout of the 146.85 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 145.05 level.
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