Japanese Yen Outlook
USD/JPY remains on the upside as rebound from 103.17 should target 106.10 resistance. Decisive break there should confirm completion of fall from 111.71 and turn outlook bullish for further rally. On the downside, break of 104.57 minor support will turn bias back to the downside for 103.17 low instead.
USD/JPY Dollar Exchange Rate
Today’s Forex Rates
USD/JPY Dollar FX Polls
Overall, the bias in prices is: Sideways.
By the way, prices are vulnerable to a correction towards 105.44.
The projected upper bound is: 106.44.
The projected lower bound is: 103.98.
The projected closing price is: 105.21.
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 25 white candles and 25 black 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 86.0000. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 3 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 53.59. 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 3 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 126.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 3 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 buy 2 period(s) ago.
Rex Takasugi – TD Profile
FOREX JPY= closed down -0.190 at 105.230. Volume was 63% below average (consolidating) and Bollinger Bands were 18% wider than normal.
Open High Low Close Volume 105.410 105.470 105.190 105.230 36,885
Technical Outlook Short Term: Overbought Intermediate Term: Bearish Long Term: Bearish
Moving Averages: 10-period 50-period 200-period Close: 104.64 105.22 106.91 Volatility: 13 7 12 Volume: 111,436 102,002 113,015
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 1.6% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term.
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 20 periods.