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Japanese Yen: USD/JPY (JPY=X) Technical Analysis by HEFFX

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

Japanese Yen
Ticker: JPY=
Price: 105.28

Japanese Yen Outlook

Forex traders are waiting for opportunities to buy the USD/JPY, and we see that support levels at 104.90 and 104.00 are suitable for buying at the present time. As I expected before, I confirm now that the upward correction of the pair will not occur without crossing the resistance barrier at 108.00. Otherwise, the general trend of the pair will remain bearish. What will affect the pair’s trends in the coming period is the investors’ risks appetite, the extent to which the global economy will be affected by the second wave of the Corona outbreak, the future of stimulus for the US economy, and expectations about the winner in the US presidential elections.

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: 106.28.

The projected lower bound is: 104.26.

The projected closing price is: 105.27.

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 26 white candles and 24 black candles for a net of 2 white 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 55.2765. This is not an overbought or oversold reading. The last signal was a buy 4 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 45.79. 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 58 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 -60. This is not a topping or bottoming area. The last signal was a buy 4 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 5 period(s) ago.

Rex Takasugi – TD Profile

FOREX JPY= closed down -0.190 at 105.300. Volume was 59% below average (consolidating) and Bollinger Bands were 61% narrower than normal.

Open     High     Low     Close     Volume
105.480  105.520  105.240 105.300   40,141
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bearish
Long Term:         Bearish
Moving Averages: 10-period     50-period      200-period
Close:           105.46        105.69         107.30
Volatility:      4             6              12
Volume:          88,864        96,488         110,643

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 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 4 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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