USD/JPY Analysis - page 13

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Greetings,
USD/JPY - Bears again on stage and perhaps the price may go down to test levels 112.80/113.00
 
The RSI divergence signalled on time today that the move to the upside is over at this stage. I think the closest target is at 113.00 - 112.76.
 
The pair continues moving south, I think that there will be a breakout below 113.30 soon.
 
After breaking below 113.30 USD/JPY is still very bearish. I think next target is around 111.60 - 111.50.
 
USD/JPY moved down to 112.79 on talks between President Trump and PM Abe. Price is expected to continue sideways until fundamentals or technicals play a role.
 

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. 

 


 
Despite strong dollar, Usd/Jpy continue trading sideways in a narrow range, the pair is lack of strength to confirm further bearish trend.
 

Greetings,

USD/JPY - Looks the pair is forming rising wedge on 1H. If confirmed, new USD decline down to 112.30/40 may happen.

 
I think it's more of a flag. Either way, I have little doubt that once that ends there will be a new move to the downside, I am waiting for a breakout below the flag's support trend line to open a short position.
 
USD/JPY is now higher currently trading at 112.37. The week was somehow beneficial for the USD, interesting to see what the next one brings!
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