Dollar-Yen Forecast January 21

■Dollar/Yen Forecast Today Daily Chart



From the daily chart of USD/JPY, the price has broken through the double resistance lines at 109.193 and 109.337 yen from bottom to top, and is currently facing the next stronger resistance line at 109.765 yen. The middle line of the Bollinger Bands, the red 20MA, has also broken from bottom to top and looks like it may move slightly upward. If the 109.765 yen resistance line is broken from bottom to top, the price is expected to extend higher. If not broken, it is expected to range for a while between the double support lines at 109.193 and 109.337 yen and the resistance line at 109.765 yen.

What do the 4-hour and 1-hour forecasts and analyses look like? In the end, can you enter a trade? Read more here