Bollinger Band FX Method Perspective USD/JPY April 13

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

The way to view Bollinger Bands for USD/JPY on the monthly chart is striking that all Bollinger Band lines are almost parallel, suggesting the chart is in a monthly-range. However, the current price is positioned in a zone sandwiched between the red 20 MA, which is the middle band, and the +1σ band, indicating a bullish tendency dominates. Since the red 20 MA acted as resistance with last month’s close, it is believed that the red 20 MA is functioning as a support line, and given the strong bullish candles still forming, there is a high likelihood of further upside movement.
What are the next week's forecasts for Bollinger Bands on the weekly and daily charts? How to use Bollinger Bands in FX trading? Practical records are also published! Continue reading