Japanese Yen: USD/JPY (JPY=X) Investors remain somewhat cautious

Japanese Yen: USD/JPY (JPY=X) Investors remain somewhat cautious

Japanese Yen: USD/JPY (JPY=X) Investors remain somewhat cautious

Investors remain somewhat cautious, which has kept the safe-haven yen subdued. The markets have digested that the Fed will likely ease up on monetary policy in 2019, which weighed on the greenback in January. The global trade war continues and investors are waiting to see if tensions between the U.S. and China will ease after a second round of talks last week.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 110.83.

The projected lower bound is: 107.97.

The projected closing price is: 109.40.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 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 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 60.2016. This is not an overbought or oversold reading. The last signal was a sell 8 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 48.32. 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 21 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 41. This is not a topping or bottoming area. The last signal was a sell 7 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 14 period(s) ago.

Rex Takasugi – TD Profile

FOREX JPY= closed unchanged at 109.480. Volume was 99% below average (consolidating) and Bollinger Bands were 36% narrower than normal.

Open High Low Close Volume___
109.490 109.510 109.450 109.480 1,491

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

Moving Averages: 10-period 50-period 200-period
Close: 109.37 110.70 111.25
Volatility: 5 8 7
Volume: 90,720 102,354 104,627

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 1.6% below its 200-period moving average and is in an upward 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 bullish on JPY= and have had this outlook for the last 5 periods.

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