Dollar/Yen Forecast January 31
■ USD/JPY Forecast Today's Daily Chart
From the daily chart of USD/JPY, a new development emerged with the recent FOMC indicators. The double support lines at 109.337 and 109.193 yen, which had been considered strong, were broken sharply from above to below, and the support-turned-resistance (S/R) level has shifted. This makes a near-term downside move highly likely. However, it also looks like the price is being supported by the 20MA, so there is also a possibility of moving higher again.
× ![]()