USD / JPY Forecast and Dollar Yen on 04/19/2021
On the final trading day, the dollar-to-yen rate indicator moves in an upward trend, it is at the level of 108.84. It is also worth paying attention to the fact that quotes are now continuing to move within the ascending channel. Movements are being made that exceed the cloud of the technical indicator Ichimoku and indicate that the bulls have the advantage now.
On Monday, April 19, 2021, the bullish trend will have an advantage on the USD / JPY rate, this will be confirmed by testing near the level of 105.95, after which it will remain in the uptrend. Forecasting price marks for the rate, which will be directed to the level of 111.75, will follow from this level.
Testing of such an upward trend will be testing of the support area, which will be complemented by a change in the direction of prices from the lower line of the ascending channel. Upon passing through the resistance area, as well as when the price changes exceeding the level of 107.65, one should notice a further rise in the upward direction, which will follow to the level of 114.35.
However, one should not exclude the possibility of a downward trend in the quotes of the dollar-to-yen rate, which will result in the bears’ advantage. Also, in the future, the price level will be expected to change with a decrease to the level of 105.95. In the future, we should expect the fixation of a downward trend, after which a drop in quotations will follow near the level of 99.25.
It should be noted that on Monday, April 19, 2021, the USD / JPY quotes will be tested at 107.65, as a result of which the bulls will have the advantage. Further, the price level will develop in an ascending direction and follow to the level of 114.35, which will be confirmed by the test of the support area. However, one should not forget the likelihood of a downward trend for the next day, as a result, the rate of the US Dollar to the Yen will break through the level of 105.95. This time the bears will have the advantage and the price level will go to the level of 99.25.
To improve the trader’s experience, you should go to an interesting article on our website, where you can get all the necessary information about what free forex signals are and how to use them. They will allow you to improve your work skills, speed up the process, and also get a safe working method that has been proven by us.