Currency pair USD/JPY US Dollar to Japanese Yen is trading at 147.26 and continues to move within the growth and bullish channel. USD/JPY quotes are moving above the upper boundary of the Cloud of the Ichimoku Kinko Hyo indicator. This indicates a bullish trend for the Dollar/Yen pair. As part of the USD/JPY Forex forecast for September 15, 2023. A correction is expected to develop and a test of the upper boundary of the Cloud of the Ichimoku Kinko Hyo indicator is expected near the level of 147.95. Where can we expect an upward rebound and continued growth of the US Dollar against the Japanese Yen with a potential target near the level of 149.85.
Japanese Yen Forecast USD/JPY for September 15, 2023
An additional signal in favor of growth of the USD/JPY currency pair on FOREX will be a test of the support area on the price chart. The second signal will be a rebound from the lower border of the bullish channel. Previously, a weak signal was received to sell the Dollar/Yen pair. The signal was formed due to the intersection of signal lines at the level of 146.35. The nearest resistance area for the Dollar/Yen pair is located at 148.05. The nearest support area for the USD/JPY pair is located near the 146.55 area.
Cancellation of the option to increase the quotes of the USD/JPY pair will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 145.85. This option will indicate a change in the bullish trend in favor of a bearish trend and a continued fall of the pair to the area below the level of 143.85. Expect an acceleration in the growth of USD/JPY quotes with a breakdown of the resistance area and closing of the price above the level of 148.85, which will indicate a breakdown of the upper boundary of the bullish channel.
Japanese Yen Forecast USD/JPY for September 15, 2023 suggests an attempt to test the support level near the 147.95 area. Where can we expect the pair to continue to grow with a potential target near the level of 149.85. Cancellation of the pair’s rise will be a fall and a breakdown of the 145.85 area. This will indicate a continued decline in the Dollar against the Japanese Yen with a target below the area of 143.85.
