The Greedy Trader Weekly Analysis
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- 5/17/2024 -
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CurrencyShares Japanese Yen Trust (FXY) Technical Analysis

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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range and Lane's Stochastic are oversold
Daily :The price has risen above the Parabolic SARPrice is near the Fibonacci 61.8% retracement level
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It was a first positive week for the CurrencyShares Japanese Yen Trust (FXY). During the week, the FXY climbed 0.10 points, or 0.17%, and closed at 59.48 on Friday, May 17, 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 58.65 on April 26, 2024. FXY lost 34.58 points, or 37.09%, in 215 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend support line (60.84) 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 58.65 on April 26, 2024. FXY lost 7.47 points, or 11.30%, in 17 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 57.72 and resistance is at 60.53. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See FXY weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range 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 April 26, 2024 at 58.65 and reached 60.74 on May 3, 2024. FXY gained -2.09 points, or -3.56%, in 7 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.

The daily MACD line is above its signal line since May 1, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.25
Williams' Percentage Range (W%R) 60.80
Lane's Stochastic (%D-Slow) 30.36
Greed/Fear Indicator (GFI) 40.28
Moving Average Converg./Diverg. (MACD) -0.33
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 36.27
Williams' Percentage Range (W%R) 89.00
Oversold
Lane's Stochastic (%D-Slow) 13.08
Oversold
Greed/Fear Indicator (GFI) 22.11
Moving Average Converg./Diverg. (MACD) -0.91
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 63.52
Quarterly Trendline Support 60.84
Upper Bollinger Band 60.67
50 Day Moving Average 60.55
Monthly Trendline Resistance 60.53
20 Day Moving Average 59.53
Price 59.48
Daily Stochastic Crossing 59.33
Parabolic System 59.07
Weekly Stochastic Crossing 59.07
Lower Bollinger Band 58.74
Monthly Trendline Support 57.72
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 60.74
High Date 05/03/2024
Low 59.10
Low Date 05/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 58.65
Low Date 04/26/2024
High 60.74
High Date 05/03/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 60.53
Support 57.72
High 66.12
High Date 12/28/2023
Low 58.65
Low Date 04/26/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Support
Resistance 63.52
Support 60.84
High 93.23
High Date 03/09/2020
Low 58.65
Low Date 04/26/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 96.75
High Date 08/18/2016
Low 58.65
Low Date 04/26/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.