The price of the dollar against the Japanese yen, analysis and forecasts for October 20

 The price of the dollar against the Japanese yen during the morning trading witnessed a rise from 114.31 levels as a result of the strong decline in the demand for the yen, and the pair continued to rise until areas of 114.70 and is currently trading at 114.54 levels.

Among the most important news that was issued on the Japanese yen, the following news can be read (Asian stocks rise and focus on the minutes of the Australian Reserve).

Analysis of the US dollar against the Japanese yen:

The US dollar against the Japanese yen pair breached 114.43 levels during yesterday's trading, thus ending our neutral view on it, and returned again to trade within an uptrend on the hourly interval.

The fast simple moving average and the slow moving average are bullish at the moment.

Relative Strength Index 14 (RSI 14) is trading within an uptrend, weakening the trend, failing to breach 70 points.

The (adx) indicator indicates the strength of the current bullish trend by trading above 50 points.

Forecast of the price of the dollar against the Japanese yen:

The US dollar pair against the Japanese yen, in case of stability above 114.42 areas, may target prices of 114.86.

Resistance: 114.75 - 115.17 - 115.62

Support: 114.43 - 113.79 - 113.26

Direction: upward

Dollar news throughout the day:

There is no important news from the US market today that will affect the US dollar's trading throughout the day.