USD / JPY Forecast and Dollar Yen on 01/14/2021
At the moment, the indicator of the Dollar / Yen rate is moving in the framework of the increase, it is at the level of 103.93. Movements are being made that exceed the cloud of the technical indicator Ichimoku and indicate that the bulls have the advantage now.
As of tomorrow, January 14, 2021, the advantage on the USD / JPY rate will be in the bullish trend, this will be confirmed by testing near the level of 103.35, after which it will remain with an upward trend. From this level will follow the forecast of price marks for the rate, which will be directed to the level of 105.95.
Testing of such an upward trend will be testing of the support area, complemented by a change in the direction of prices from the lower line of the ascending channel. When passing through the resistance area, as well as when the price changes exceeding the level of 103.35, one should notice a further rise in the increasing direction, which will follow to the level of 105.95.
However, one should not exclude the possibility of a downward trend in the quotes of the price level of the dollar / yen rate, which will result in the advantage of the “bears”. Also, in the future, a change in the price level will be expected with a decrease to the level of 102.35. In the future, we should expect the fixation of the downward direction and the drop in quotations will follow near the level of 100.25.
Based on the above, it should be noted that tomorrow, January 14, 2021, the USD / JPY rate will test the level of 103.35, after which the bulls will have the advantage. In the future, the rate quotes will increase and head to the level of 105.95, which will be tested by testing the support level. But do not forget the possibility of a downward trend for tomorrow, as a consequence of which the Dollar / Yen rate will break the level of 102.35. The bears will have the advantage and the quotes will go to the level of 100.25.
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