CurrencyShares Japanese Yen Trust
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|It was the negative week for the CurrencyShares Japanese Yen Trust (FXY). During the week, the FXY dropped -1.15 points, or -1.31%, and closed at 86.50 on Friday, May 18, 2018. Weekly volume was -13% below 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 (85.28) 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 uptrend had started on November 3, 2017 at 83.92 and reached 91.62 on March 23, 2018. FXY gained -7.70 points, or -9.18%, in 20 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (86.34) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
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. 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 April 20, 2018. 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 March 23, 2018 at 91.62 and reached 86.32 on May 18, 2018. FXY lost 5.30 points, or 5.78%, in 56 days. The chart has formed a Falling Channel chart pattern. The trend support level is at 86.15 and resistance is at 87.07. 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 short-term trend.
Daily Technical Indicators: [See FXY daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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.