Japanese Yen: USD/JPY (JPY=X) staying in consolidation from 110.58 temporary low
The Japanese yen trades marginally lower in early Asia despite robust retail sales data. It made intraday high at 111.16 and low at 110.89 levels.
A sustained close above 111.22 is required to take the parity higher towards key resistance around 112.62 and 114.72 marks respectively. Alternatively, a daily close below 110.97 will drag the parity down towards key supports around 110.27, 109.24, 108.72 and 107.90 marks respectively.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 112.21.
The projected lower bound is: 109.88.
The projected closing price is: 111.04.
A white body occurred (because prices closed higher 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 24 white candles and 26 black candles for a net of 2 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 51.6727. This is not an overbought or oversold reading. The last signal was a buy 3 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 48.23. 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 8 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 -71. This is not a topping or bottoming area. The last signal was a sell 8 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 6 period(s) ago.
Rex Takasugi – TD Profile
FOREX JPY= closed down -0.020 at 111.040. Volume was 96% below average (consolidating) and Bollinger Bands were 11% wider than normal.
Open High Low Close Volume___
111.030 111.080 110.980 111.040 4,246
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 111.45 110.57 110.05
Volatility: 6 7 8
Volume: 98,058 104,410 106,309
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 0.9% above its 200-period moving average and is in an downward trend. Volatility is relatively normal 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 bearish on JPY= and have had this outlook for the last 2 periods.