Currency pair USD/JPY US Dollar to Japanese Yen completes the trading week near the level of 140.24 and continues to move as part of the growth and the bullish channel. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud. This indicates a bullish trend for the Dollar/Yen pair. A correction is expected to develop and a test of the area of the signal lines of the Ichimoku Kinko Hyo indicator near the level of 137.05. Where should we expect an attempt to bounce up and continue the rise of the USD/JPY currency pair with a target near the level of 148.75.
Japanese Yen Prediction September 5 — 9, 2022
An additional signal in favor of the growth of the pair in the current trading week September 5 — 9, 2022 will be a test of the support level on the price chart. The second signal will be a rebound from the lower border of the bullish channel. Earlier, a weak medium-strength signal was received for buying the Dollar/Yen pair. The signal was formed due to the crossing of signal lines at the level of 134.05.
Cancellation of the option to raise the quotes of the pair will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 132.45. This will indicate a change in the bullish trend in favor of the bearish trend and the continued fall of the pair on Forex with the target below the level of 128.65. Expect an acceleration in the growth of USD/JPY quotes with a breakdown of the resistance area and closing above the level of 141.85.
Japanese Yen Prediction September 5 — 9, 2022 suggests an attempt to develop a correction to the level of 137.05. Where should we expect a rebound and continued growth of the pair with a potential target near the level of 148.75. In favor of the rise of the pair will be a test of the support area. Cancellation of the growth option for the currency pair will be a breakdown of the area of 132.45. In this case, we should expect a continuation of the decline with the target below the level of 128.65.
