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Archive
- 11/8/2024 -
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CurrencyShares Japanese Yen Trust (FXY) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a first positive week after 5 consecutive negative weeks for the CurrencyShares Japanese Yen Trust (FXY). During the week, the FXY climbed 0.19 points, or 0.31%, and closed at 60.55 on Friday, November 8, 2024. It was the best weekly gain since September 27, 2024. Weekly volume was -11% below 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 57.17 on July 10, 2024. FXY lost 36.06 points, or 38.68%, in 226 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (57.26) 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 long-term trend.
 Medium-term trend: [See FXY medium-term trend chart]
A medium-term downtrend had started on September 16, 2024 at 65.88 and reached 59.75 on November 6, 2024. FXY lost 6.13 points, or 9.30%, in 7 weeks. The price is now at the 13.05% retracement level.
 Weekly Technical Indicators: [See FXY weekly technical indicators chart]
Weekly Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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.
The weekly MACD line is below its signal line since October 18, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See FXY short-term trend chart]
A short-term downtrend had started on November 5, 2024 at 61.05 and reached 59.75 on November 6, 2024. FXY lost 1.30 points, or 2.13%, in 1 days. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See FXY daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
A Parabolic SAR (stop and reversal) indicator (60.11) comes close to the price (60.55). It indicates that the trend is getting weaker. 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.
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