Japanese Yen: USD/JPY (JPY=X) Buying into Yen
USD/JPY remains mired in a falling wedge formation while other major pairs are printing at fresh yearly lows (or highs). This would point to the fact that the bulk of this morning’s USD-strength is more-driven from fear (of contagion) than greed (for higher rates).
USD/JPY Four-Hour: Lack of Participation in Long-USD Party Indicates Risk-Aversion.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 111.55.
The projected lower bound is: 109.41.
The projected closing price is: 110.48.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 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 29.7297. This is not an overbought or oversold reading. The last signal was a buy 12 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 39.88. 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 sell 17 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 -154.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 17 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 15 period(s) ago.
Rex Takasugi – TD Profile
FOREX JPY= closed down -0.450 at 110.470. Volume was 98% below average (consolidating) and Bollinger Bands were 13% narrower than normal.
Open High Low Close Volume___
110.920 110.920 110.310 110.470 2,208
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 111.27 110.92 109.94
Volatility: 6 6 8
Volume: 87,551 100,323 105,950
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 0.5% above 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 11 periods.
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