Quotes of the currency pair Dollar/Yen USD/JPY are completing the trading week of a bullish correction within the descending channel near the 144.57 area. The moving averages indicate a bearish trend. 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 from the current levels. At the moment, we should expect an attempt to develop a bullish price correction and a test of the resistance level near the 146.25 area. Then, a rebound downwards and a continuation of the fall of the pair to the area below the 133.65 level.
USD/JPY Weekly Forecast May 5 — 9, 2025
An additional signal in favor of the fall of the Dollar Yen pair in the current 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 upper border of the descending channel. The cancellation of the fall option for the USD/JPY pair in the current trading week of May 5 — 9, 2025 will be a strong growth and a breakout of the 149.25 area. This option will indicate a breakout of the resistance area and continued growth of the pair on Forex to the area above the level of 153.45. Confirmation of the fall in the USD/JPY pair will be a breakout of the support area and closing of the price below the level of 140.95, which will indicate a breakout of the lower border of the bullish channel.
USD/JPY Weekly Forecast May 5 — 9, 2025 suggests an attempt to develop a bullish correction and a test of the resistance level near the area of 146.25. From where we should expect a continuation of the fall of the pair to the area below the level of 133.65. An additional signal in favor of the decline will be a test of the trend line on the relative strength indicator. Cancellation of the fall option for the pair will be strong growth and a breakout of the level of 149.25. This will indicate a continuation of the rise of the pair with a potential target above the area of 153.45.
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