Dollar-yen forecast February 20

■Dollar/Yen Forecast Today Daily Chart

From the daily chart of the USD/JPY, the trend line angle is gradually becoming steeper and the rise appears to be losing its momentum. Technically, according to Dow Theory, the uptrend has not been broken, but looking at the most recent candlesticks, including the gigantic bearish candle five days ago and two doji candles, it feels like the market has nowhere to go, and upside seems heavy. Additionally, on the upside there are strong resistance levels: the purple 200 MA, which is said to function as the only powerful wall that institutional investors watch, and the USD/JPY 111.368 yen line, which also appears to be a strong barrier; both stand in the way doubles, and on top of that the Bollinger Band’s +2σ also interferes, so breaking above this would require a lot of energy.
What are the forecasts and analyses for the 4-hour and 1-hour charts? In the end, can you enter? Read more