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Downtrend Broken Resist.Archive - 3/15/2024 - Sign In to see current Signals. |
CurrencyShares Japanese Yen Trust (FXY) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the CurrencyShares Japanese Yen Trust (FXY). During the week, the FXY dropped -0.84 points, or -1.33%, and closed at 62.16 on Friday, March 15, 2024. It was the worst weekly loss since January 19, 2024. Weekly volume was 101% above average. Long-term trend: [See FXY long-term trend chart] A long-term downtrend had started on March 9, 2020 at 93.23 and reached 61.09 on November 13, 2023. FXY lost 32.14 points, or 34.47%, in 192 weeks. The chart has formed a Descending Triangle chart pattern. The trend support level is at 60.93 and resistance is at 64.76. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a long-term trend. Medium-term trend: [See FXY medium-term trend chart] A medium-term downtrend had started on December 28, 2023 at 66.12 and reached 61.40 on February 13, 2024. FXY lost 4.72 points, or 7.14%, in 6 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (59.98) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend. Weekly Technical Indicators: [See FXY weekly technical indicators chart] Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help. During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help. Short-term trend: [See FXY short-term trend chart] A short-term uptrend had started on February 13, 2024 at 61.40 and reached 63.14 on March 11, 2024. FXY gained -1.74 points, or -2.83%, in 27 days. The price is now at the 56.32% retracement level. Daily Technical Indicators: [See FXY daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is above its signal line since February 26, 2024. This is an indication that the short-term trend is up. During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level. During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band. During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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