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USD/JPY Dollar Yen trading forecast for the week of April 12-16, 2021

USD/JPY Dollar Yen trading forecast for the week of April 12-16, 2021

 

The quotes of the Dollar Yen USD/JPY currency pair finish the trading week near the area of 109.81. The pair continues to move within the growth and ascending channel. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines up, which indicates pressure from buyers of the US Dollar and the potential continuation of the rise. At the moment, we should expect an attempt to develop a correction and test the support level near the area of 107.55. Then, a rebound and a continuation of the pair's rise to the area above the level of 115.25.

 

USD/JPY Dollar Yen trading forecast for the week of April 12-16, 2021


An additional trading signal in favor of the rise of the Dollar-Yen pair in the current trading week will be a test of the ascending trend line on the relative strength indicator. The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the option of lifting the USD/JPY pair in the current trading week on April 12-16, 2021 will be a fall and a breakdown of the 105.35 area. This option will indicate a breakdown of the support area and the continuation of the fall of the pair on Forex to the area below the level of 99.45. Confirmation of the rise in the USD/JPY pair will be a breakdown of the resistance area and the closing price above the level of 111.95.

 

USD/JPY Dollar Yen trading forecast for the week of April 12-16, 2021

 

Among the important news from Japan that may have an impact on the Japanese Yen, it is worth highlighting: The Speech of the Chairman of the Bank of Japan Kuroda (Bank of Japan (BoJ) Governor Kuroda Speech).

Thus, USD/JPY the Dollar Yen forecast for the week of April 12 — 16, 2021 suggests an attempt to test the support level near the area of 107.55. From where we should expect the pair to continue growing in the area above the level of 115.25. An additional signal in favor of the rise will be a test of the trend line on the relative strength indicator. The cancellation of the growth option of the pair will be a fall and a breakdown of the level of 105.35. This will indicate a continuation of the pair's decline with a potential target below the 99.45 area.

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USD/JPY Forex forecast for the week of May 10-14, 2021
The quotes of the Dollar Yen USD/JPY Forex currency pair finish the trading week near the area of 108.57. The pair continues to move within the fall and the ascending channel. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines up, which indicates pressure from buyers of the US dollar and the potential continuation of the rise. At the moment, we should expect an attempt to develop a correction and test the support level near the area of 107.35. Then, a rebound and a continuation of the pair's rise to the area above the level of 113.75. USD/JPY Forex forecast for the week of May 10-14, 2021 An additional signal in favor of the rise of the Dollar-Yen Forex pair in the current trading week will be a test of the ascending trend line on the relative strength indicator. The second signal will be a rebound from the lower border of the bullish channel. Here, a bullish "5-0" pattern is also formed, which implies an update of the maximum. The cancellation of the rise of the USD/JPY pair in the current trading week of May 10-14, 2021 will be a fall and a breakdown of the 106.05 area. This option will indicate the breakdown of the support area and the continuation of the fall of the pair in Forex to the area below the level of 99.05. Confirmation of the rise in the USD/JPY pair will be the breakdown of the resistance area and the closing of the price above the level of 111.75, which will indicate a breakdown of the upper limit of the descending channel. USD/JPY trading signal for the week of May 10-14, 2021 Important news from Japan, which may have an impact on the Japanese Yen, is not expected, so the pair will continue to move within the framework of technical analysis.Thus, USD/JPY the Dollar Yen Forex forecast for the week of May 10 — 14, 2021 suggests an attempt to test the support level near the area of 107.35. From where we should expect the pair to continue growing in the area above the level of 113.75. An additional signal in favor of the rise will be a test of the trend line on the relative strength indicator. The cancellation of the growth option of the pair will be a fall and a breakdown of the level of 106.05. This will indicate a continuation of the pair's decline with a potential target below the 99.05 area.
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USD/CHF Forex forecast for the week of May 10-14, 2021
The Dollar Franc USD/CHF Forex currency pair ends the trading week near the level of 0.9032. The pair continues to move within the fall and tests the upper limit of the broken down channel. Moving averages indicate a bearish trend. Prices are again testing the area between the signal lines, which indicates pressure from sellers of the US currency and the potential continuation of the fall of the instrument. At the moment, we should expect an attempt to correct the price and test the support area near the level of 0.8745. Next, a rebound and an attempt to continue the rise of the pair with a potential target above the level of 0.9575. USD/CHF Forex forecast for the week of May 10-14, 2021 An additional signal in favor of the rise of the Dollar-Franc currency pair will be a test of the trend line on the relative strength indicator. The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the USD/CHF growth option will be a fall and a breakdown of the 0.8705 area. This will indicate the breakdown of the support area and the continuation of the fall of the pair on Forex with a goal below the 0.8375 area. Confirmation of the pair's rise in the current trading week for the week of May 10 — 14, 2021 will be the breakdown of the resistance area and the closing of quotes above the level of 0.9235. USD/CHF Forex forecast for the week of May 10-14, 2021 Important news from Switzerland, which may have an impact on the Swiss Franc against the US Dollar, is not expected, so the pair will continue to move within the framework of technical analysis.Thus, the forecast of the Franc exchange rate for the week of May 10-14, 2021 suggests an attempt to test the support level near the 0.8745 area. Then, the continuation of the USD/CHF growth in the area above the level of 0.9575. The trend line test on the relative strength indicator will be in favor of the rise. The cancellation of the USD/CHF growth option will be the breakdown of the support area and the closing of quotes below the level of 0.8705. This will indicate a continuation of the pair's decline with a potential target below the 0.8375 level.
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GBP/USD Forex forecast for the week of May 10-14, 2021
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EUR/USD forex forecast for the week of May 10-14, 2021
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EUR/USD forex forecast for May 7, 2021
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Oil price analysis and forecast for May 7, 2021
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07.05.2021 Avatar TorForex Read
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