ForexPeoples Daily Technical Analysis for The Majors (4 Pair Forex) - page 28
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USD/JPY DAILY as of Tuesday, 28 May, 2013
US Dollar / Japanese Yen after breaking below the up trendline 21 days ago at 97.99 is looking bearish. This up trendline, currently with an ending point at 106.90, may now provide a strong upside resistance. If selling US Dollar / Japanese Yen consider placing a stop loss just above the up trendline just in case the breakout is premature.
A Daily black body has formed during yesterday’s trading session.
A Daily doji star has formed (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.A Daily long lower shadow has formed. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).Three Daily black candles has formed during the last three Daily bars. Although these candles were not big enough to create threeDaily black crows, the steady downward pattern is bearish.
MACD is currently BEARISH. The MACD is currently below the signal line with the MACD crossed below the signal line 2 days ago. Since the MACD crossed the MACD moving average, US Dollar / Japanese Yen's price has decreased 0.19%, and has fluctuate from a high of 102.582 to a low of 100.667.
RSI signal generated a Sell 6 days ago.The RSI has just reached its lowest value in the last 14 days. This is BEARISH signal. The RSI has also set a new 14-day low while prices has not. This is a BEARISH DIVERGENCE.
SAR signal triggered a Sell 2 days ago.
The close is currently still
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
Unless USD/JPY moves below the short to long term moving averages the current market condition for US Dollar / Japanese Yen is Very Bullish.
On 27/05/2013, US Dollar / Japanese Yen closed below the upper Bollinger Band by 44.9%. Bollinger Bands are 84.17% wider than normal. The large width of the Bollinger Bands suggest high volatility as compared to US Dollar / Japanese Yen's normal range. Therefore, the probability of volatility decreasing and prices entering (or remaining in) a trading range has increased for the near-term. The Bollinger bands have been in this wide range for 11 days. The probability of prices consolidating into a less volatile trading range increases the longer the Bollinger Bands remain in this wide range.
An Inside Day Narrow Range was detected by your Elliott Waves High Volatility on 27/05/2013. This is usually a trade set-up opportunity.
The present wave patterns are:
fast amplitude (8%): bullish wave C
moderate amplitude (13%): bullish wave 1
normal amplitude (21%): bullish wave 1
Elliott Waves High Volatility has detected an Isolated Low at 100.67one bar ago ; this is usually a bullish sign that is not to be used alone! Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bearish pattern!
Please note that all wave counts are based on the high low price in this commentary!
US Dollar / Japanese Yen is long term Bullish as the 144 days moving average of 92.91 is increasing. The Relative Strength Index is at 54.26 in the neutral territory. The Relative Momentum Index is at 71.94 in the overbought territory. An important indicator for Elliott waves, the Elliott oscillator is at 1.65, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 0.00. This value is in the oversold territory.
*** Intra-Daily Trading Strategy: BUY USD/JPY on dip(retracement) on intraday
Buy Target: 101.2837
Buy Stop: 100.4463
Enter BUY on OPEN and exit BUY at Target price or at Stop price.Do not reverse especailly on anti-trend!!
This is a recommendation for INTRA-DAY TRADING only!!!!
Daily Technical Analysis for Wednesday, May 29, 2013 - by ForexPeoples.Com | using Daily-TF chart. EURUSD down price on still look here and for me if EURUSD today can break more down again to bellow the last intraday low at 1.2848 = take action for sell is good act, of course. GBPUSD most probably price move for GBPUSD = still on look to down - i see. and yes, we can search for additional sell if the level 1.5026 was could be break down too (by today strong seller group). USDJPY this also look to more bulls again probability. on USDJPY daily chart = clear can be see : if then 102.51 can be break up too by strong buyer = take for search buy is nice plan then. USDCHF the bulls trend on still here and for me if USDCHF then can move up too to above the last intraday high (near 0.9781) - take a buy will be better act. ok. we see too that yesterday candle here on still look support for bulls, i see.
Regards.
Daily Technical Analysis for Thursday, May 30, 2013 - by ForexPeoples.Com | using Daily-TF chart. EURUSD yes, bulls still on here. for me if next EURUSD can break up again to above the 1.2977 = take a nice buy will be better act then. on the daily candle = yes, bulls still big momentum till now. GBPUSD for GBPUSD = probably bulls continuation on here. and take a plan buy is better - with make sure that the break up price to 1.5145 happen then here. USDJPY the bearish also can still probably play on this USDJPY - so, please note : if then the candle can break down again to bellow 100.71 = take a sell op will be good act then. USDCHF i see - for USDCHF today, this more to bearish continuation if 0.9599 can be break by strong seller. the last yesterday daily candle on look nice support bearish for now (momentum for sell still big, i see).
Regards.
Daily Technical Analysis for Friday, May 31, 2013 - by ForexPeoples.Com | using Daily-TF chart. EURUSD the EURUSD pair on more to probably can bulls again and for me if the important level price at near 1.3061 can be break up by next group buyer = it's time for buy. ok. GBPUSD the more price to bulls on still here. and for me - if GBPUSD then can break up again to more above 1.5237 = take a buy plan is good act, of course. USDJPY for me - the USDJPY also on look to bearish too. and yes, if the last intraday low at near 100.46 was can be break by seller = nice sell then here. now, let's see first for that break down price to 100.46. USDCHF the momentum to sell also on still here. and for me if USDCHF then can break down again to bellow 0.9525 = take a part to become seller - good decision then.
Regards.
Daily Technical Analysis for Sunday, June 02, 2013 (analysis price for next opening price - tomorrow) - by ForexPeoples.Com | using Daily-TF chart. EURUSD on the daily tf formation - this EURUSD truly on still can bulls again. for my simple look - bulls can happen again with nice move here if fib level at near 1.3061 can be break up too by strong buyer of course. just it. GBPUSD for GBPUSD - till this pair closed - i see the momentum to bulls still on here (although on last daily candle - the correction bearish on here) and for me - the GU pair will be good for buy = only after the 1.5237 (that now act as strong intraday high for this pair) can be break up by next strong buyer (of course), if that happen = buy will be better to be choose. USDJPY down price still on USDJPY = for me - if this UJ can also move again on bellow that 100.46 = just be a seller! - that's wise idea of course. USDCHF hello, look to the two daily candle of this USDCHF = yes, truly this still on more to down bearish again and for me if 0.9525 then also can be break down by next strong seller = take a part of seller is more wise decision then. let's see first for that break down to bellow 0.9525 for start plan sell here then.
Regards.
Daily Technical Analysis for Monday, June 03, 2013 - by ForexPeoples.Com | using Daily-TF chart. EURUSD the price on EURUSD on still move weak move - i call this pair still on sideways flat because the price now on still in inner the previous daily candle - take action to still wait and see is more better act. GBPUSD for GBPUSD - this still on bulls. and for me - for this pair likely still can up again if then 1.5240 can be break up too by new additional buyer group then. let's see and be ready for buy. USDJPY most USDJPY trend is still down till now. and with clear can be see = if the 100.22 can be break down too by next seller = be a part of seller will be wise decision then. USDCHF after we see the nice sell can be play here - after the last USDCHF candle was formed as a bearish pinbar. and yes. for take new plan sell here = we must wait first for the break down price to 0.9510 first. just it.
Regards.
Daily Technical Analysis for Tuesday, June 04, 2013 - by ForexPeoples.Com | using Daily-TF chart. EURUSD most momentum for EURUSD is still bulls and yes, this bulls still can play again if the last strong intraday high (near the 1.3107 can be break up too by next buyer). for now, waiting for break up to more that 1.3107 is good act of course. GBPUSD for GBPUSD - this still more look to up bulls again and look good for buy if on next price move - the bulls candle can break that strong intraday high (near the price 1.5373). take action to buy is better if that happen then. USDJPY most price move on USDJPY is still down. for me - if the USDJPY on today price move also can break more down to bellow 98.86 = that's mean - good for start sell - ok, let's see for that break down first to 98.86 for better plan sell op then. USDCHF still nice down - and the plan for sell still good to be apply for this USDCHF then. and please note : that nice sell is good act after the 0.9410 can be break down by seller. let's see first.
Regards.
Daily Technical Analysis for Wednesday, June 05, 2013 - by ForexPeoples.Com | using Daily-TF chart. EURUSD most price on EURUSD is still sideways but to bulls. for me - if the last strong intraday high at near the price 1.3100 was could be break up by next buyer = yes, take action to buy will be better act then. GBPUSD for GBPUSD = till now also on still move sideways. with this price candle formation, i see the better strategy is use the pending order on high low daily candle of course. good luck. USDJPY on my see - the USDJPY will become to probably more to bulls again - today, if that 100.40 also was could be break up by buyer = yes, take action to buy will be better then. just it. USDCHF just be aware with sideways on this USDCHF = the price till now on still move slow so near that intraday pivot 0.9486 = this is truly not good to be take new op. probably price to just sideways / flat = yes on here.
Regards.
Daily Technical Analysis for Thursday, June 06, 2013 - by ForexPeoples.Com | using Daily-TF chart. EURUSD sideways to bulls on here but for take a nice new buy, of course - we must wait first for that break up price on this EURUSD to that 1.3113. ok, let's see first for that break up then. GBPUSD just be aware with more bulls for this GBPUSD = on my see if the last strong intraday hig level (near 1.5409) can be break up too by buyer = take action to buy will be better here then. USDJPY the USDJPY more to look down again if truly the seller also can move again bellow the 98.96. look, at the morning today, we see that 98.96 was break down by seller, and yes, if next price can break down again to 98.96 = take action to sell is still good act then. USDCHF bearish on USDCHF was look weak. so, if we need to play sell , just be aware. on my see, as long as that strong fib level at 0.9395 can not be break down again by seller - this probably price to up bulls correction then.
Regards.
Daily Technical Analysis for Friday, June 07, 2013 - by ForexPeoples.Com | using Daily-TF chart. EURUSD for EURUSD - I see, bulls on still can here again. for take a buy op - please note that buyer must break up first to that 1.3304 then - so, we now just wait for that break up first. GBPUSD for me - this GBPUSD also on still can bulls too. the momentum bulls look still big here till now. on daily tf - we can see with clear that : if the 1.5683 also can be break by next buyer, that's time for buy. USDJPY I see - for USDJPY - this more look to still down + good for sell again - but, with using fib level, for sell, make sure first that 95.90 had can be break down by next seller, ok. USDCHF for USDCHF - bearish here was look weak and no good for sell (as long as intraday low - near 0.9226) can not be break down again by seller group). and be aware about price bulls correction then.
Regards.