Japanese Yen: USD/JPY (JPY=X) Ready To Take Off – Live Trading News

USD/JPY Dollar Exchange Rate

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Technical Indicators

Overall, the bias in prices is: Sideways.

The projected upper bound is: 106.54.

The projected lower bound is: 104.48.

The projected closing price is: 105.51.

Candlesticks

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 27 white candles and 23 black candles for a net of 4 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 63.5468. 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 49.82. 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 57 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 -9. This is not a topping or bottoming area. The last signal was a buy 3 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 4 period(s) ago.

Rex Takasugi – TD Profile

FOREX JPY= closed up 0.110 at 105.530. Volume was 66% below average (consolidating) and Bollinger Bands were 62% narrower than normal.

Open High Low Close Volume 105.420 105.610 105.370 105.530 33,173 Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bearish Moving Averages: 10-period 50-period 200-period Close: 105.53 105.72 107.32 Volatility: 4 6 12 Volume: 90,045 95,948 110,533

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 1.7% below its 200-period moving average and is in an downward trend. Volatility is low 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 3 periods.