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Japanese Yen: USD/JPY (JPY=X) Support at 105.00

$JPY #Japanese #Yen #USD #FX #Currencies #Trading #Markets

Japanese Yen
Ticker: JPY=
Price: 105.70

Japanese Yen News

USD/JPY held steady-to-lower levels and should remain above big options expiries at 105 before Jerome Powell’s policy speech on Thursday , but it could fall below there if the Fed chair’s economic view darkens enough to rekindle negative-rates speculation.

Weighing on the dollar were expectations that the Fed will formalize a shift to average inflation targeting, allowing price growth to rise above its 2% goal to compensate for time spent below.

The implication is the Fed, with its funds target rate already only at 0-25bp, would depress Treasury yields by committing to keep the funds rate near zero until inflation targeting and full employment goals have been met.

These policy changes are now largely reflected in Treasury and TIPS yields, and the dollar’s drop from March. Unless Powell raises negative rates speculation, 105 should hold USD/JPY, but 107 supply should cap.

USD/JPY Dollar Exchange Rate

Today’s Forex Rates

USD/JPY Dollar FX Polls

Economic Events

Technical Indicators

Overall, the bias in prices is: Sideways.

The projected upper bound is: 107.03.

The projected lower bound is: 104.82.

The projected closing price is: 105.92.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 21 white candles and 29 black candles for a net of 8 black candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

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 63.9474. This is not an overbought or oversold reading. The last signal was a sell 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 47.17. 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 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 -22. This is not a topping or bottoming area. The last signal was a sell 6 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 sell 2 period(s) ago.

Rex Takasugi – TD Profile

FOREX JPY= closed down -0.020 at 105.950. Volume was 77% below average (consolidating) and Bollinger Bands were 9% narrower than normal.

Open     High     Low     Close     Volume
105.970  106.050  105.850 105.950   24,815
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bearish
Long Term:         Bearish
Moving Averages: 10-period     50-period     200-period
Close:           106.14        106.56        108.01
Volatility:      7             7             12
Volume:          84,994        97,867        106,099

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 1.9% below its 200-period moving average and is in an downward 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 bearish on JPY= and have had this outlook for the last 49 periods.

HEFFXhttp://www.heffx.com
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

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