The USD/JPY currency pair continue to move within the framework of the development of a decline and a bullish channel. At the time of publication of the forecast, the US Dollar to Japanese Yen exchange rate is 144.27. 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 potential continuation of price growth from current levels. As part of the Japanese Yen exchange rate forecast for May 6, 2025, we should expect an attempt to develop a bearish correction and a test of the support area near the level of 143.35. Next, an upward price rebound and continued growth of the USD/JPY pair to the area above the level of 147.45.
USD/JPY Forecast Japanese Yen for May 6, 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. Cancellation of the option of increasing the Dollar Yen currency pair will be a fall and a breakout of the level of 142.55. 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 138.65. We should expect confirmation of the price growth with a breakout of the resistance level and consolidation of the price above 145.45.
USD/JPY Forecast Japanese Yen for May 6, 2025 suggests an attempt to grow the price of the currency pair and test the support area near 143.35. Then, the continuation of the development of the bullish impulse of quotes to the area above 147.45. The test of the support line on the relative strength indicator will be in favor of the pair’s growth. The cancellation of the growth option will be a fall and a breakout of the 142.55 area. This will indicate a breakout of the support level and a continuation of the fall in the pair with a potential target below 138.65.
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