Bollinger Bands FX Method How to View USD/JPY March 30

How to read Bollinger Bands: USD/JPY Monthly Chart (Forecast for Next Week)

In terms of interpreting Bollinger Bands for USD/JPY monthly chart, the price has continued the bullish momentum since last month and rose up to the middle line of the Bollinger Bands, which is the red 20-MA, and +1σ. However, it then stalled and has since fallen back to the red 20-MA, with the current price directly above the red 20-MA. It is forming a bullish candle with a lower wick, so the question is whether the red line will act as support and the price will move higher again, or whether the price will break below the red 20-MA and transition to a stage between -1σ and red 20-MA just one level down.

What are the next week's forecasts for the Bollinger Bands on the weekly and daily charts? What are FX techniques using Bollinger Bands? Practicals are also published! Continue reading