USD/JPY Analysis - page 6

Usd/Jpy failed to rally beyond 104.00 level suggesting the pair might entre correction mode, need further confirmation for clear direction.

There is a breakout below the support trendline of the overall bullish trend that has been forming in the past two weeks as well as a RSI divergence on the 4H time frame. I already have a short position, because I think there will be a major correction to the downside and the first target will be around 109.50.

Expecting a correction.

I think that the price will pass 111.39 level. After that, the price will go to the level of 106.46 or further.

 

What next movement on this week, if look on daily candle already trend on saturation and there are sign will move vice versa, but still doubt also because not yet break previous daily low and monday usually market move on narrow movement

Weekly US Dollar / Japanese Yen-USDJPY As of 25/11/16

 

A white body has formed as prices closed higher than open.

The previous 10 candlestick bars, there are 7 white candles versus 3 black candles with a net of 4 white candles.

The previous 50 candlestick bars, there are 27 white candles versus 23 black candles with a net of 4 white candles.

Three white candles has formed during the last three bars. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.MACD is BULLISH as the MACD is above the signal line.

 The MACD crossed above the signal line 13 week(s) ago.  Since the MACD crossed the MACD moving average, US Dollar / Japanese Yen's price has increased 11.08%, and has been fluctuating from a high of 113.895 to a low of 99.941.

The MACD is currently not in an Overbought/Oversold range.

There have been no divergence signals during the last 5 periods.

The Stochastic Oscillator is currently above 80. This is an indication of the security being in an "overbought" condition. No Stochastic Buy or Sell signals generated today. The last signal was a Buy 27 Week(s) Ago.

The RSI is not currently in a topping (above 70) or bottoming (below 30) range. A buy or sell signal generated when the RSI moves out of an overbought/oversold area. The last signal was a Buy 19 week(s) ago.

 The RSI has just reached its highest value in the last 14 week(s). This is BULLISH signal.

 

Currently, the Momentum Oscillator is in an overbought condition.

 

 The last Directional Movement Indicators (DMI) signal was a BUY 1 week(s) ago.

There were no SAR signals generated today. The last SAR signal was a Buy 4 week(s) Ago.

The close is currently

ABOVE its 200 weekly moving average

ABOVE its 50 weekly moving average

ABOVE its 20 weekly moving average

  The current market condition for US Dollar / Japanese Yen is Very Bullish

US Dollar / Japanese Yen closed above the upper Bollinger Band by 22.5%.  Although prices have broken the upper Bollinger Band and an upside breakout is possible, the most likely scenario is for the current trading range that US Dollar / Japanese Yen is in to continue.   Bollinger Bands are 20.99% wider than normal.  The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.

 

Given the pair's sharp u-turn from 114, showing the chance of correction pull back, but the combination of Dollar strength and Yen weakness could still encourage further incline.

Daily US Dollar / Japanese Yen-USDJPY As of 25/11/16

*** Intra-Daily Trading Strategy: SELL US Dollar / Japanese Yen

Sell Target: 112.4477   

Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.

(NOTE: Adjust Stop Loss Price according to your trading risk.)

Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

 

A black body has formed as prices closed lower than open.

The previous 10 candlestick bars, there are 6 white candles versus 4 black candles with a net of 2 white candles.

The previous 50 candlestick bars, there are 30 white candles versus 20 black candles with a net of 10 white candles.

MACD is BULLISH as the MACD is above the signal line.

 The MACD crossed above the signal line 11 day(s) ago.  Since the MACD crossed the MACD moving average, US Dollar / Japanese Yen's price has increased 6.78%, and has been fluctuating from a high of 113.895 to a low of 101.184.

The MACD is currently not in an Overbought/Oversold range.

There have been no divergence signals during the last 5 periods.

The Stochastic Oscillator is currently above 80. This is an indication of the security being in an "overbought" condition. No Stochastic Buy or Sell signals generated today. The last signal was a Sell 18 Day(s) Ago.

The RSI is above 70. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal generated when the RSI moves out of an overbought/oversold area. The last signal was a Buy 98 day(s) ago.

 

Currently the RSI does not show any Failure Swings. The RSI and price of US Dollar / Japanese Yen are not diverging.

Currently, the Momentum Oscillator is in an overbought condition.

 

 The last Directional Movement Indicators (DMI) signal was a SELL 11 day(s) ago.

There were no SAR signals generated today. The last SAR signal was a Buy 12 day(s) Ago.

The close is currently

ABOVE its 200 daily moving average

ABOVE its 50 daily moving average

ABOVE its 20 daily moving average

 The current market condition for US Dollar / Japanese Yen is Very Bullish

US Dollar / Japanese Yen closed below the upper Bollinger Band by 7.9%.  Bollinger Bands are 134.21% wider than normal.