USD / JPY: technical recovery

Catégorie [ $ / JPY ]

Long term:  bearish on a long term basis

On a yearly basis, Bollinger bands are down. A PEI is the status for our 7 / 23 years moving averages. Our stochastic and MACD are overbought. The decline in progress should continue for some periods. 

On a quarterly basis, a bearish A type crossover is in progress. A PEI is the status for our stochastic and MACD. A qualification into a bearish parallel is not ruled out.

On a monthly basis; a bearish parallel pattern is always in progress. A PEI is in progress with our 7 / 23 months moving averages.

Idea: use monthly bearish parallel rules

Bet: towards 75 or lower.

R = PM (87.08);     S = 79.70 (Historical low), 75, – - -.


Medium term: without trend

 On a weekly basis, Bollinger bands are flat. A bearish no-crosover is in progress with our 7 / 23 weeks moving averages. With an overbought status for our MACD, LW will be our next objective.

Idea: bearish as long as MW proves to be a resistance

Bet: as long as our 7 weeks moving average is down, a bear trend could develop.

R = MW (82.50), UW (84.16);           S = LW (80.75)


 Short term: flat

On a daily basis, Bollinger spread is a reference one. With an oversold status for our stochastic and MACD, UD could be a target.

Idea: technical recovery in progress

Bet: UW is a strong resistance.

R = UD (83.09), UW (84.16);   S = LD (81.57)


Conclusion: technical recovery in progress (end of fiscal year in March).