Dollar-Yen Forecast February 8

■ USD/JPY Daily Chart Forecast for Today


From the daily chart of USD/JPY, it is forming an uptrend while continuing to follow a clean Dow Theory since the other day, and it is currently fluctuating near the strong USD/JPY 109.765 barrier. It is highly likely that this 109.765 line acts as a support-turned-resistance, as the candles’ upper wicks and lower wicks have swapped multiple times in the past, indicating a possible shift to support becoming resistance and an overall bullish outlook.

What are the predictions and analysis for the 4-hour and 1-hour charts? In the end, can we enter? Read more here