Dollar-Yen Forecast March 12
■ Dollar-Yen Forecast Today's Daily Chart
From the daily chart of USD/JPY, the daily chart shows that after a run of three consecutive bearish candles recently, it was expected to bounce at the only strong resistance that even institutional investors watch, the purple 200-day moving average, turning to a brief rally. It is also at the red line 20MA, the middle band of the Bollinger Bands, which represents a pullback area, and there is a high likelihood of another upward move from here; however, just above there is a strong-looking resistance at USD/JPY 111.368, so it is at a crossroads where it could break up from below or be pushed back down.
× ![]()
