US Dollar / Japanese Yen-USDJPY As
Intra-Daily Trading Strategy: BUY US
Dollar / Japanese Yen
New BUY on OPEN and exit BUY
positions at Target price or at Stop price.
Stop Loss Price according to your trading risk.)
not reverse after exiting. This is a recommendation for INTRA-DAY
A big bullish white
candle has formed. Prices closed considerably higher than open. If the
candle appears when prices are "low," it may be the first sign of a
bottom. If it occurs when prices are rebounding off a support area, a moving
average, trend line, or retracement level, the long white candle adds
credibility to the support. Likewise, if the candle appears during a breakout
above a resistance area, the long white candle adds credibility to the
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 0 day(s) ago. Since the MACD
crossed the MACD moving average, US Dollar / Japanese Yen's price has been
unchanged, and has been fluctuating from a high of 117.381 to a low of 114.771.
The MACD is currently not in an Overbought/Oversold range.
There have been no divergence signals during the last 5
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 31 Day(s)
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 Sell 12 day(s) ago.
Currently the RSI does not show any Failure Swings. The
price of US Dollar / Japanese Yen has set a new 14-period high while the RSI
has not. This is a BEARISH DIVERGENCE.
the Momentum Oscillator does not show an
overbought or oversold condition.
The last Directional
Movement Indicators (DMI) signal was a SELL 24 day(s) ago.
There were no SAR signals
generated today. The last SAR signal was a Buy 3 day(s) Ago.
The close is
confirmation from the short term-trend and a current Buy
signal. The current market condition for
US Dollar / Japanese Yen is Very Bullish
US Dollar / Japanese
Yen closed above the upper Bollinger Band by
0.9%. This combined with the steep
uptrend suggests that the upward trend in prices has a good chance of
continuing. However, a short-term
pull-back inside the Bollinger Bands is likely. Bollinger Bands are
wider than normal. The current width of
the Bollinger Bands (alone) does not
suggest anything conclusive about the future volatility or movement of prices.
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