Japanese Yen: USD/JPY (JPY=X) highly sensitive to stock markets and risk appetite

Japanese Yen: USD/JPY (JPY=X) highly sensitive to stock markets and risk appetite

Japanese Yen: USD/JPY (JPY=X) highly sensitive to stock markets and risk appetite

The US dollar has rolled over against the Japanese yen in early trading on Wednesday as we continue to see a major churn when it comes to this pair.

Ultimately, this is a market that will continue to be very noisy based upon the geopolitical situation between the United States and China being somewhat fluid, and of course stock markets all over the place, although reaching the highs in the United States we do have some major divergence when it comes to the S&P 500 and the NASDAQ 100. In other words, there are far too many landmines out there to feel comfortable buying a lot of risk.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 108.85.

The projected lower bound is: 106.74.

The projected closing price is: 107.79.

Candlesticks

During the past 10 bars, there have been 3 white candles and 4 black candles for a net of 1 black candles. During the past 50 bars, there have been 19 white candles and 28 black candles for a net of 9 black candles.

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 66.5870. 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 42.75. 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 5 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 0. This is not a topping or bottoming area. The last signal was a buy 5 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 3 period(s) ago.

Rex Takasugi – TD Profile

FOREX JPY= closed unchanged at 107.880. Volume was 98% below average (consolidating) and Bollinger Bands were 20% narrower than normal.

Open High Low Close Volume___
107.880 107.920 107.860 107.880 2,205

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

Moving Averages: 10-period     50-period     200-period
Close: 107.67 109.21 110.95
Volatility: 7 6 7
Volume: 84,947 88,201 99,263

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 2.8% 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 42 periods.

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