Dollar-Yen Forecast April 12

■ USD/JPY Daily Forecast Today’s Chart

From the USD/JPY daily chart, we can see that after three consecutive bearish candles, there was a sharp bullish candle that negated all of them. Since institutional investors are watching and the purple 200 MA, which is said to function as a strong resistance, has cleanly pushed it back, this 200 MA is expected to have acted as a support line. Also, because it moves back and forth, oscillating here and there, it feels somewhat wandering, indicating a range-bound state.

What are the forecasts and analyses for the 4-hour and 1-hour charts? In the end, can we enter? Read more