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CurrencyShares Japanese Yen Trust
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|It was a first positive week for the CurrencyShares Japanese Yen Trust (FXY). During the week, the FXY climbed 0.66 points, or 0.74%, and closed at 90.40 on Friday, March 16, 2018. Weekly volume was 96% above average. |
Long-term trend: [See FXY long-term trend chart]
A long-term uptrend had started on June 5, 2015 at 77.19 and reached 96.75 on August 18, 2016. FXY gained -19.56 points, or -25.34%, in 62 weeks. The chart has formed a Falling Pennant chart pattern. The uptrend resistance line (84.80) is broken. Usually a broken resistance is considered to be a long-term bullish 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 resistance line in a long-term trend.
Medium-term trend: [See FXY medium-term trend chart]
A medium-term downtrend had started on August 18, 2016 at 96.75 and reached 81.33 on January 3, 2017. FXY lost 15.42 points, or 15.94%, in 19 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (85.02) 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 overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 above its signal line since January 5, 2018. The distance between MACD and the signal line is relatively high, but getting smaller. 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 December 12, 2017 at 84.39 and reached 91.07 on March 2, 2018. FXY gained -6.68 points, or -7.92%, in 80 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 90.22 and resistance is at 91.52. A Rising 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 Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.
Daily Technical Indicators: [See FXY daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 6, 2018.
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.
The price touches the upper Bollinger Band. 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.