The USD/JPY currency pair continue to move within the development of a bullish correction and have left the ascending correction channel. At the time of publication of the forecast, the US Dollar to Japanese Yen exchange rate is 149.60. 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 March 6, 2025, we should expect an attempt to develop a bullish correction and a test of the resistance area near the level of 150.25. Then, a downward price rebound and a continuation of the fall of the USD/JPY pair to the area below the level of 146.65.
USD/JPY Forecast Japanese Yen for March 6, 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 lower border of the bullish channel, which was broken downwards. The cancellation of the fall option for the Dollar Yen currency pair will be a strong growth and a breakout of the 151.45 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 153.25 level. We should expect confirmation of the price fall with a breakout of the support level and consolidation of the price below the 148.65 level.
USD/JPY Forecast Japanese Yen for March 6, 2025 suggests an attempt to reduce the price of the currency pair and a test of the resistance area near the 150.25 level. Then, the continuation of the development of the bearish impulse of quotes to the area below the 146.65 level. A test of the resistance line on the relative strength indicator will be in favor of the fall of the pair. The cancellation of the fall option will be a strong growth and a breakout of the 151.45 area. This will indicate a breakout of the resistance level and continued growth in the pair with a potential target above the 153.25 level.
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