The USD/JPY currency pair continue to move within the framework of the decline and have left the bullish channel. At the time of publication of the forecast, the US Dollar to Japanese Yen exchange rate is 143.11. 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 May 7, 2025, we should expect an attempt to develop a bullish correction and a test of the resistance area near the level of 143.55. Then, a downward price rebound and a continuation of the fall of the USD/JPY pair to the area below the level of 140.45.
USD/JPY Forecast Japanese Yen for May 7, 2025
An additional signal in favor of a decline in 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. The cancellation of the fall option for the Dollar Yen currency pair will be a strong growth and a breakout of the 145.05 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 147.45 level. We should expect confirmation of the price fall with a breakout of the support level and consolidation of the price below the 142.65 level.
USD/JPY Forecast Japanese Yen for May 7, 2025 suggests an attempt to grow the price of the currency pair and test the support area near the 143.55 level. Then, the continuation of the development of the bullish impulse of quotes to the area above the 140.45 level. The test of the support line on the relative strength indicator will be in favor of the growth of the pair. The growth option will be cancelled by a fall and a breakout of the 145.05 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 147.45 level.
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