Dollar-Yen Forecast February 21

■ USD/JPY Daily Chart Prediction for Today

From the daily chart of USD/JPY, the trend line angle has become steep, and at present the only strong resistance that institutional investors are watching is the 200-day moving average (200MA). Price is approaching this level, getting capped at the top and forming wicks. The key is whether it can move above the 200MA from below; even if it does, there is another strong resistance above it around 111.368 JPY, so there is a possibility of being halted there and the upside could be heavy, making the outlook bearish to neutral.
What are the predictions and analysis for the 4-hour and 1-hour charts? Ultimately, can you enter? Read more