The USD/JPY currency pair continue to move within the framework of growth development and have left the descending channel. At the time of publication of the forecast, the US Dollar to Japanese Yen exchange rate is 144.09. Moving averages indicate the presence of a short-term bearish trend for the pair. Prices have broken through the area between the signal lines upwards, which indicates pressure from US Dollar buyers and a potential continuation of price growth from the current levels. As part of the forecast of the Japanese Yen exchange rate for May 2, 2025, we should expect an attempt to develop a bearish correction and a test of the support area near the level of 142.85. Then, a price rebound upwards and continued growth of the USD/JPY pair to the area above the level of 147.65.
USD/JPY Forecast Japanese Yen for May 2, 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 upper border of the descending channel. The cancellation of the option of the rise of the Dollar/Yen currency pair will be a fall and a breakout of the level of 141.45. 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 a continuation of the decline of the pair to the area below the level of 137.85. We should expect confirmation of the price growth with a breakout of the resistance level and consolidation of the price above the level of 145.25.
USD/JPY Forecast Japanese Yen for May 2, 2025 suggests an attempt to grow the price of the currency pair and a test of the support area near the level of 142.85. Then, the continuation of the development of the bullish impulse of quotes to the area above the level of 147.65. 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 141.45 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 137.85 level.
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