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Japanese Yen Q1 Technical Forecast: Why USD/JPY Prices Might Fall in Q1 2019

Japanese Yen Q1 Technical Forecast: Why USD/JPY Prices Might Fall in Q1 2019

Daniel Dubrovsky, Strategist

Taking a closer look on the monthly chart below, prices failed to push above the horizontal range of resistance between 114.37 and 114.73 outlined in the Q4 2018 forecast. This area is created by combining the highs achieved in May, July and November 2017. This leaves USD/JPY facing the threat of reversing upside progress achieved over most of last year.

USD/JPY Price Chart: Monthly Timeframe (December 2013 to December 2018)

Japanese Yen Q1 Technical Forecast: Why USD/JPY Prices Might Fall in Q1 2019

See the complete Q1’19 Japanese Yen forecast as well as forecasts for the other major currencies, equities, Gold, and Oil.

--- Written by Daniel Dubrovsky, Junior Currency Analyst

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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