USD/JPY Forecast April 18

■ USD/JPY Daily Chart Forecast Today

Looking at the USD/JPY daily chart. On the daily chart, the current price is within an uptrending range, and intraday investors are watching. The 200-day moving average (purple), which is considered a strong resistance, and the middle band of the Bollinger Bands (the red line 20-day MA) are slightly rising. Additionally, the Bollinger Bands show signs of widening, so as with the chart shape from a few days ago, there is clear upward momentum expected. However, there appears to be a double resistance line at 112.206 and 112.306 yen just above, which seems to prevent the price from rising despite the desire to go higher, making the upper side look heavy in anticipation.
What about the 4-hour and 1-hour forecasts and analyses? Can we actually enter a trade? Read more here