US Dollar ($) ⇨ Japanese Yen (¥)(USDJPY) Japan HEFFX Outlook

US Dollar ($) ⇨ Japanese Yen (¥)(USDJPY) Japan HEFFX Outlook

US Dollar ($) ⇨ Japanese Yen (¥)(USDJPY) Japan HEFFX Outlook

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

By the way, prices are vulnerable to a correction towards 112.89.

The projected upper bound is: 114.48.

The projected lower bound is: 109.66.

The projected closing price is: 112.07.

FOREX JPY= closed down -0.010 at 112.170. Volume was 98% below average (consolidating) and Bollinger Bands were 55% narrower than normal.

Open            High           Low            Close          Volume
112.070       112.200      112.040      112.170      3,264

Technical Outlook
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period      50-period      200-period
Close:                       113.14            114.59             107.67
Volatility:                8                     13                     15
Volume:                   102,928        126,382          104,601

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 Japan
FOREX JPY= is currently 4.2% above 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 4 periods.

Japan, JPY, USD, Asia, Yen, HEFFX, Outlook, Shayne Heffernan

HEFFX Candlesticks Japan
A white body occurred (because prices closed higher 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 19 white candles and 31 black candles for a net of 12 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.

HEFFX Momentum Japan
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 11.4918. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 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 41.78. 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 45 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 -123.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. 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 sell 1 period(s) ago.

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John Heffernan

John Heffernan is an Analyst at HEFFX. John is a BSc in Economics with Honors from the University of Buckingham, and is a contributor on equities at Live Trading News.

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