Dollar-Yen Forecast February 18

■ USD/JPY Daily Forecast Today's Intraday Chart

From the USD/JPY daily chart, an uptrend is forming with a clean Dow theory pattern. However, recently it faced a sharp decline as it was pressed down by the purple 200 MA, which is considered the only strong resistance that institutions pay attention to. After the drop, once it reached the support line at 110.360 yen, which seems fairly strong, it bounced back upward, and it is almost certain that these two levels of support and resistance are functioning. For the time being, it is expected to move within the purple 200 MA and the USD/JPY 110.360 yen support/resistance range.

What are the forecasts and analyses for the 4-hour and 1-hour charts? Can we actually enter? Read more