Japanese Yen: USD/JPY (JPY=X) BoJ in Focus

Japanese Yen: USD/JPY (JPY=X) BoJ in Focus

Japanese Yen: USD/JPY (JPY=X) BoJ in Focus

BSI larger manufacturing conditions figures for the 1st quarter are due out on Monday. The data is unlikely to have an impact on the Yen, which will continue to be driven by market risk sentiment. The markets will need to consider the BoJ’s monetary policy decision on Friday.

The Japanese Yen ended the week up 0.64% at ¥111.17 against the U.S Dollar.

Overall, the bias in prices is: Sideways.

By the way, prices are vulnerable to a correction towards 110.76.

The projected upper bound is: 112.37.

The projected lower bound is: 109.97.

The projected closing price is: 111.17.

Candlesticks

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 28 white candles and 20 black candles for a net of 8 white candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Momentum Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 48.3517. This is not an overbought or oversold reading. The last signal was a sell 1 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 54.30. 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 45 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 2. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 38 period(s) ago.

Rex Takasugi – TD Profile

FOREX JPY= closed down -0.430 at 111.150. Volume was 15% below average (neutral) and Bollinger Bands were 29% narrower than normal.

Open High Low Close Volume___
111.560 111.640 110.770 111.150 87,771

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 111.40 109.90 111.39
Volatility: 6 7 7
Volume: 90,359 94,038 104,541

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.

Summary

FOREX JPY= is currently 0.2% below its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect volume flowing into and out of JPY= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on JPY= and have had this outlook for the last 29 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

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