Dollar-Yen Forecast January 18

■ USD/JPY Daily Chart Forecast Today



From the USD/JPY daily chart, a chart pattern resembling a "flag" has formed, and the price is moving within a trading range. It has reached the double resistance lines that were previously anticipated around 109.193 yen and 109.337 yen, which had been strong resistance levels. The current price is right above this resistance line, and it is now focused on whether it will break above this line or be pushed back downward. This position also coincides with the 20 MA, so if the 20 MA has been functioning as resistance, it would become a triple resistance line, increasing the likelihood of another rejection to the downside.

What are the forecasts and analyses for the 4-hour and 1-hour charts? Can we enter after all? Read more here