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USD/JPY - Bears again on stage and perhaps the price may go down to test levels 112.80/113.00
Weekly US Dollar / Japanese Yen-USDJPY As of 17/02/17
*** Intra-Weekly Trading Strategy: BUY US Dollar / Japanese Yen
Buy Target: 113.9733
Enter New BUY on OPEN and exit BUY 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 5 white candles versus 5 black candles.
The previous 50 candlestick bars, there are 28 white candles versus 22 black candles with a net of 6 white candles.
MACD is BEARISH as the MACD is below the signal line.
The MACD crossed below the signal line 0 week(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 114.496 to a low of 112.618.
The MACD is currently not in an Overbought/Oversold range.
There have been no divergence signals during the last 5 periods.
No Stochastic Buy or Sell signals generated today. The last signal was a Buy 39 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 Sell 7 week(s) ago.
The RSI has just reached its lowest value in the last 14 week(s). This is BEARISH signal.The RSI has set a new 14-period low while the price of US Dollar / Japanese Yen has not. This is a BEARISH DIVERGENCE.
Currently, the Momentum Oscillator does not show an overbought or oversold condition.
The last Directional Movement Indicators (DMI) signal was a BUY 13 week(s) ago.
There were no SAR signals generated today. The last SAR signal was a Sell 3 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 below the upper Bollinger Band by 43.8%. Bollinger Bands are 93.31% wider than normal.
Greetings,
USD/JPY - Looks the pair is forming rising wedge on 1H. If confirmed, new USD decline down to 112.30/40 may happen.