Dollar-Yen Forecast February 15
■ USD/JPY Daily Chart Forecast for Today
From the USD/JPY daily chart, as previously forecast, the current institutional investors’ focus is on the single strong resistance heptagonal wall at the purple 200 MA, which has effectively held the price down and pushed it back downward. The gains from the day before yesterday have all been negated, and the price has returned to the support line at 110.360 yen for USD/JPY, which is believed to be functioning as a strong barrier. Going forward, the pattern will depend on whether the price breaks below the 110.360 yen line and returns to the previous stage, or whether it is pushed back up to trade between the 110.360 yen support line and the 111.368 yen resistance line.
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