Quotes of the currency pair Dollar/Yen USD/JPY are ending the trading week with a fall near the 154.80 area. Moving averages indicate a bullish trend. Prices are testing the area between the signal lines, indicating pressure from US dollar buyers and potential continued growth from current levels. At the moment, we should expect an attempt to develop price growth and test the resistance level near the 156.85 area. Then, a downward rebound and continued fall of the pair to the area below the 142.35 level.
USD/JPY Weekly Forecast February 3 — 7, 2025
An additional signal in favor of the fall of the Dollar Yen pair this trading week will be a test of the descending trend line on the relative strength indicator. The second signal will be a rebound from the lower border of the “Wedge” reversal pattern. The cancellation of the USD/JPY fall option in the current trading week of February 3 — 7, 2025 will be strong growth and a breakout of the 161.65 area. This option will indicate a breakout of the resistance area and continued growth of the pair on Forex to the area above the 165.35 level. A breakout of the support area and closing of the price below the 153.45 level will confirm the fall of the USD/JPY pair. There is no important news from Japan that could affect the Japanese Yen rate, so the pair will continue to move within the technical analysis.
USD/JPY Weekly Forecast February 3 — 7, 2025 suggests an attempt to develop a bullish correction and test the resistance level near the 156.85 area. From where we should expect the pair to continue falling to the area below the 142.35 level. An additional signal in favor of the fall will be a test of the trend line on the relative strength indicator. The cancellation of the pair’s decline option will be a strong growth and a breakout of the 161.65 level. This will indicate a continuation of the pair’s rise with a potential target above the 165.35 area.
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