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Japanese Yen Outlook
Forex traders are waiting for opportunities to buy the USD/JPY, and we see that support levels at 104.90 and 104.00 are suitable for buying at the present time. As I expected before, I confirm now that the upward correction of the pair will not occur without crossing the resistance barrier at 108.00. Otherwise, the general trend of the pair will remain bearish. What will affect the pair’s trends in the coming period is the investors’ risks appetite, the extent to which the global economy will be affected by the second wave of the Corona outbreak, the future of stimulus for the US economy, and expectations about the winner in the US presidential elections.
USD/JPY Dollar Exchange Rate
Today’s Forex Rates
USD/JPY Dollar FX Polls
Overall, the bias in prices is: Sideways.
The projected upper bound is: 106.28.
The projected lower bound is: 104.26.
The projected closing price is: 105.27.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 55.2765. This is not an overbought or oversold reading. The last signal was a buy 4 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 45.79. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 58 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -60. This is not a topping or bottoming area. The last signal was a buy 4 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 5 period(s) ago.
Rex Takasugi – TD Profile
FOREX JPY= closed down -0.190 at 105.300. Volume was 59% below average (consolidating) and Bollinger Bands were 61% narrower than normal.
Open High Low Close Volume 105.480 105.520 105.240 105.300 40,141
Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bearish
Moving Averages: 10-period 50-period 200-period Close: 105.46 105.69 107.30 Volatility: 4 6 12 Volume: 88,864 96,488 110,643
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FOREX JPY= is currently 1.9% below its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.
Our volume indicators reflect volume flowing into and out of JPY= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on JPY= and have had this outlook for the last 4 periods.
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