Dollar-Yen Forecast February 26
■USD/JPY forecast today’s daily chart
From the daily chart of USD/JPY, it has broken upward through the purple 200 MA resistance line, which is regarded as the only strong barrier that institutional investors pay attention to on the daily chart. However, at this stage it is not yet clear whether a support-resistance turn has occurred, and there is also a possibility of a pullback with a lower wick. Even if a support-resistance turn occurs and the outlook for an upward move becomes higher, just above there is the next seemingly strong USD/JPY level at 111.368 yen as a resistance line, so unless this is surpassed, it is unlikely to form a clear uptrend, and the upside remains heavy when viewed overall.
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