USD/JPY WEEKLY as of Monday, 01 June, 2015

 

A big bullish white candle has formed. Prices closed considerably higher than open. If the candle appears when prices are "low," it may be the first sign of a bottom. If it occurs when prices are rebounding off a support area, a moving average, trend line, or retracement level, the long white candle adds credibility to the support. Likewise, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.

The previous 10 candlestick bars, there are 6 white candles versus 4 black candles with a net of 2 white candles.

The previous 50 candlestick bars, there are 33 white candles versus 17 black candles with a net of 16 white candles.

MACD is BEARISH as the MACD is below the signal line.

 The MACD crossed below the signal line 18 period(s) ago.  Since the MACD crossed the MACD moving average, US Dollar / Japanese Yen's price has increased 5.42%, and has been fluctuating from a high of 124.450 to a low of 116.873.

The MACD is currently not in an Overbought/Oversold range.

There have been no divergence signals during the last 5 periods.

 No Stochastic Buy or Sell signals generated today. The last signal was a Sell 133 Period(s) Ago.

The RSI is above 70. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal generated when the RSI moves out of an overbought/oversold area. The last signal was a Sell 10 period(s) ago.

 The RSI has just reached its highest value in the last 14 period(s). This is BULLISH signal.

 

Currently, the Momentum Oscillator does not show an overbought or oversold condition.

 

 The last Directional Movement Indicators (DMI) signal was a SELL 88 period(s) ago.

There were no SAR signals generated today. The last SAR signal was a Buy 12 period(s) Ago.

The close is currently

ABOVE its 200 weekly moving average

ABOVE its 50 weekly moving average

ABOVE its 20 weekly moving average

 The current market condition for US Dollar / Japanese Yen is Very Bullish

US Dollar / Japanese Yen closed above the upper Bollinger Band by 26.2%.  Although prices have broken the upper Bollinger Band and an upside breakout is possible, the most likely scenario is for the current trading range that US Dollar / Japanese Yen is in to continue.   Bollinger Bands are 31.69% narrower than normal.  The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.

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