|
|
Archive
- 7/19/2024 -
Sign In to see current Signals. |
CurrencyShares Japanese Yen Trust (FXY) Technical Analysis
|
 |
| Summary:
| | Weekly :   | | Daily :
Move cursor over the icon to see details.
| | It was a third positive week after 3 consecutive negative weeks for the CurrencyShares Japanese Yen Trust (FXY). During the week, the FXY climbed 0.09 points, or 0.15%, and closed at 58.71 on Friday, July 19, 2024. FXY was trading at average weekly trading volume.
 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 Descending Triangle chart pattern. The downtrend support line (60.76) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. 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 support 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 57.17 on July 10, 2024. FXY lost 8.95 points, or 13.54%, in 27 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (56.88) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. FXY may retest the broken resistance line. It is considered to be a support line now. 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.
The weekly MACD line is below its signal line since March 15, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 July 10, 2024 at 57.17 and reached 59.28 on July 17, 2024. FXY gained -2.11 points, or -3.69%, in 7 days. The price is now at the 27.01% retracement level.
 Daily Technical Indicators: [See FXY daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.
The daily MACD line is above its signal line since July 10, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.
| |
|
|