Currency pair USD/JPY US Dollar to Japanese Yen is trading at 141.18 and continues to move within the growth and bullish channel. USD/JPY quotes are moving above the upper border of the Ichimoku Kinko Hyo Cloud. This indicates a bullish trend for the Dollar/Yen pair. As part of the Forex forecast USD/JPY for September 8, 2022. A correction is expected to develop and a test of the upper border of the Cloud of the Ichimoku Kinko Hyo indicator near the level of 139.65. Where should we expect a rebound and continued growth of the US Dollar against the Japanese Yen with a potential target near the level of 144.35.
Japanese Yen Forecast USD/JPY September 8, 2022
An additional signal in favor of the rise 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. Earlier, a strong signal was received for buying the Dollar/Yen pair. The signal was formed due to the crossing of the signal lines at the level of 136.85.
Cancellation of the option to raise 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 136.35. This option will indicate a change in the bullish trend in favor of the bearish trend and the continuation of the fall of the pair to the area below the level of 134.25. It is worth expecting an acceleration of the rise in USD/JPY quotes with a breakdown of the resistance area and closing the price above the level of 142.85, which will indicate a breakdown of the upper limit of the bullish channel.
Japanese Yen Forecast USD/JPY September 8, 2022 suggests an attempt to test the support level near the area of 139.65. Where should we expect the pair to continue to grow with a potential target near the level of 144.35. Cancellation of the pair’s rise option will be a fall and a breakdown of the 136.35 area. This will indicate a continued decline in the Dollar against the Japanese Yen with a target below the 134.25 area.