Dollar-Yen Forecast May 2
■ USD/JPY Daily Forecast Today’s Intraday Chart
Let’s examine the USD/JPY daily chart. On the daily chart, as before, the uptrend highs are not stopping their retreat. On the current candlestick, although the recent low has moved lower, major institutional investors are watching and it is said to act as the only strong wall at the purple 200 MA, which repelled the price. Also, even though the line at around 111.368 yen for USD/JPY looked like it would break from above to below, it was pulled back upward, and the price is now slightly showing a bullish candlestick, moving near the previous close. Surrounded by the powerful walls of the purple 200 MA and the red 20 MA, and forming a double top appearance, and with the chart pattern “rising flag” also broken, it can be predicted that the trend has shifted to a downward bias as before.
