Japanese Yen: USD/JPY (JPY=X) price action suggests investor indecision and impending volatility
The Dollar/Yen finished slightly lower on Wednesday, while trading inside the previous day’s range. The price action suggests investor indecision and impending volatility. Investors showed little reaction to a volatile Treasury market where yields dipped and firmed during the same session.
The price action suggests investors may be already squaring positions ahead of today’s European Central Bank monetary policy decisions and next week’s interest rate decisions from the U.S. Federal Reserve and Bank of Japan.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 109.33.
The projected lower bound is: 107.12.
The projected closing price is: 108.23.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 24 white candles and 24 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 92.6830. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 6 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 51.39. 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 13. This is not a topping or bottoming area. 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 1 period(s) ago.
Rex Takasugi – TD Profile
FOREX JPY= closed up 0.090 at 108.260. Volume was 39% below average (neutral) and Bollinger Bands were 36% narrower than normal.
Open High Low Close Volume___
108.170 108.270 108.020 108.260 53,511
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 107.94 108.43 110.56
Volatility: 6 6 7
Volume: 77,846 87,975 96,825
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 2.1% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. 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 13 periods.
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