reports
- Steve Lucas
Weekly USDJPY - trend break and higher lows & highs keep signals bulli...
​Bullish signals for USDJPY in each of the last 4 weeks have been confirmed, investors buying the market last week to post a 3rd higher weekly low & high in a row and a gain of 1.75 Big Figs. Prices are trading above their key daily averages as well as the 200 week rate and along with this the 2017 falling trend of lower weekly highs has been broken. This is all positive, but an over 5 Big Fig gain since June has left daily signals for sentiment overstretched near May's 114.37 top so pullbacks...
- Steve Lucas
USDJPY - signals switching to temporarily bearish
​Bullish signals for USDJPY on the week have been confirmed with Monday's strong gains through a weekly bear trend. However with daily sentiment overstretched and trading towards 7 week highs, Wednesday's signals pointed to staying square on the open and to buying the dip. This was the correct strategy as initial losses of almost 0.5 Big Fig were recovered. However an unchanged close has been followed by profit taking selling in Asia this morning. The pullback is probably corrective and tempor...
- Steve Lucas
USDJPY - signals turning for a temporary profit taking pullback
​This week's bullish signals for USDJPY have been confirmed, investors buying the market above the key daily averages and posting a 3rd higher daily low & high in a row on Thursday. However, yesterday's signals were more cautious, pointing to staying square on the open and to selling the rally at a weekly bear trend. This trend did in fact attract sellers, though with sentiment closing the day little changed overall. Selling in Asia however has ended a sequence of higher daily lows and with si...
- Steve Lucas
Weekly USDJPY - signals switch to bullish
​Having been bearish of USDJPY for 4 weeks in a row, last week's signals switched to bullish and to buying the dip at 109.48. This was close to the base and confirmed with a rally of over 2.5 Big Figs from Wednesday's 108.82 low. The bounce has attracted sellers on Friday from in between the 50 & 100 day average rates and there is the potential for further losses. These should be temporary though and the outlook for this week is to buy just modestly on the open and then at 110.25, Thursday's M...
- Steve Lucas
USDJPY - signals switch for the 2nd day in succession - back to bearis...
​With bearish signals for USDJPY on the week confirmed, and with Wednesday's analysis highlighting the potential for buyers to return to the market from close to 109.06, the window which has remained open since the last 7 week close, Thursday's signals switched to bullish. These too were confirmed as gains of just over 0.5 Big Fig ended a sequence of lower daily highs. However, the rally is also signalled as being potentially temporary and the rally is stalling at the 200 day average rate. The...
- Steve Lucas
USDJPY - signals switch to temporarily bullish
​Although bearish signals for USDJPY on the week and for Tuesday have been confirmed, Wednesday's signals highlighted the potential for buyers to return to the market from close to 109.06, the window which has remained open since the last 7 week close. Despite this, the outlook remained negative, but pointed to staying square on the open and to selling into an expected rally. Although profit taking buying has so far been modest, a sequence of lower daily highs has been ended, so with signals p...
- Steve Lucas
USDJPY - oversold, sell into corrective rally
​Bearish signals for USDJPY on the week and for Tuesday have been confirmed, investors selling the market yesterday to post a 3rd lower daily low in a row and a loss of 1.25 Big Figs on the day. While there is no buy signal, prices are trading towards a window which has been left open since the last 7 week close at 109.06, as well as April 2017 base at 108.13, levels which are likely to attract buyers. However, although there may be early gains on Wednesday these should be temporary and the ou...
- Steve Lucas
USDJPY - signals bearish & testing 200 week & 200 day moving average r...
​Failure in May from close to 114.64, a 62% recovery to the entire 2017 sell-off has left signals bearish for USDJPY in each of the last 3 weeks. These have been confirmed, last week's trading posting a 3rd lower weekly high in a row and losses of 1 Big Fig. There is no sign that the deterioration is ending, but last month's losses continue to test the 200 week as well as the 200 day average rates. Until these levels are clearly broken there remains some caution and against this background the...
- Steve Lucas
USDJPY - signals point to corrective recovery
​Bearish signals for USDJPY on the week and in each of the last 2 days have been confirmed, investors selling the market on Wednesday to post a 5th lower daily high in a row and a loss of just under 0.5 Big Fig. While May's deterioration has taken prices below their 50 & 100 day average rates, the 4 Big Fig sell-off has attracted buyers back to the market above the 200 day line and close to the 200 week rate. Improving sentiment in Asia this morning is pointing intraday signals higher, but unt...
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