Bollinger Bands FX Method View USDJPY April 6
How to Read Bollinger Bands: USD/JPY Monthly Chart (Forecast for Next Week)
Regarding how to read the Bollinger Bands for USD/JPY on the monthly chart, similar to last month, the price is moving between the red line 20EMA, which is the middle band, and +1σ, and it is currently forming a bullish candle, so from an objective perspective, buying pressure appears to be stronger. Also, after the current price breaks above the red line 20EMA from below, it returns to the red line 20EMA, stops exactly there, and then begins to form a bullish candle, which makes it likely that the red line 20EMA has converted into a support/resistance level, and that the red line 20EMA is functioning as support. Going forward, buying pressure is expected to be dominant.
