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Weekly forecast: USDJPY 13-17 Oct. 2014
Technical analysis for weekly forecast for USDJPY 13-17 Oct. 2014. In weekly chart USDJPY bearish trend. At present USDJPY below the pivot point and going towards the 1st support level. If 1st support level breaks then next strong support level is 103.004.
Pivot: 108.333
Resistance levels
R1 109.150
R2 110.654
R3 111.471
R4 112.288
Support levels
S1 106.829
S2 106.012
S3 104.508
S4 103.004
Attachment 11876
The price hits the lower level of donchin channel on the USDJPY chart to perform a probably of bullish trend start by today As you can see the price is actually moving at bearish trend because of the down channel for today About the Awesome oscillator there are a bearish sign by having a red colored bars located below the 0 th level A quick look to the stostatic can inform you by a sell signal as the price near the level of 20 and there is a bearish cross between the two lines As a result of the previous signals I can bet on the bullish side by taking a buy trades wishing that the price reach the high edge of Donchin level which can be used as a good area for closing buy trades in profit http://bigimage.cz/photos/20141013141315205180749.gif
The price is moving below the wave of EMA indicators to perform a shape of bearish direction through the day at the chart of USDJPY pair And with a sell signal showing on the RSI indicator which have the line going below the center line of 35 This also can be merged with the data of Macd indicator as you can see the green lines is heading down to inform that the market bears have the control at the market for the current period Then I think going with the bears at the current day and keep at the market until another buy signals shown on the chart by getting the price above the wave of EMA indicators.
http://bigimage.cz/photos/20141010141290591132555.gif .
A clear cross is occurs on the momentum indicator on the USDJPY chart as the blue line goes below the red one to perform a good selling signals for the current time By the way the red color is shown on the Oracle Strength indicator and then it can be considered as a downward direction signal for the USDJPY To add strength to the direction the Oracle direction indicator should be useful and by a quick look you can see the red color on the arrows to perform a downward signal on the short term Now according to these data I think a downward trend should be in action as long as the momentum sell cross still on the chart and a sell trades can be taken as long as the ATR indicator keep showing a selling signals.
http://bigimage.cz/photos/20141013141315241309087.gif .
the USDJPY pair for today seems to be on bearish trend according to the red color of the Super trend which is my main indicator to determine the market direction.
Also the Nonlog dot is red colored which indicate a sell signal by the way.
Now the signals show a strong bearish trend and a sell trades can take a place as long as the signals remain the same.
For the stop loss area I think there are 2 ways to exit if the super trend changes its color to be green or if the price hits the resistance at the area of 107.45 which may mean that the bearish direction is over.
http://bigimage.cz/photos/20141013141315677178651.gif .
A strong bearish trend take a place on the hourly chart of the USDJPY as the Blade oscillator is now at 0.186 area below the level of balance and at the same time the indicator is red colored which is a strong indication of bearish direction on the short term. On the chart itself you can see the moving average 5 sloping down and then you can consider the last top drawn by it at 107.38 as a good stop loss if you need it in case of sell orders which is very advised according to the indicators signals. http://bigimage.cz/photos/20141013141316057674958.gif
the price seems to move in downward trend today on the USDJPY chart as there are a red dots above the bars and as long as the price keeps lower than the strong resistance of 10.1533 which is also the weekly Pivot point then it seems that the price may keep going south till it can hit the weekly pivot support at 106.5233 .
In other scenario if the price can break the resistance 10.1533 and get a bullish signals by a blue dots then it’s expected to keep going north till the resistance of 110.6667 as the next weekly Pivot point.
http://bigimage.cz/photos/20141013141316260392948.gif .
As you can see on the chart of USDJPY the prices is now upper than the EMA line of 15 which could be used as a good sign of bullish trend for today.
Also the power line indicator is now below the 50 level which indicates a good downward direction signal.
One important thing else is the power momentum indicator which as you can see show a low power of the bullish trend which can be used to filter the entry of buy positions.
http://bigimage.cz/photos/20141013141316387696965.gif .
A fast look on the USDJPY chart will help you to recognize the down trend on the hourly chart as the Gann SSl indicator moving downward and showing a red color.
According to this signal I will go with the sell orders for the current day as long as the price can’t break the resistance area shown by the white grid almost at price 0 .
Also there is a signal that should be aware of on the Range indicator which has a sell range colored by red to indicate a sell direction.
Finally using the signals of Filter indicator shouldn’t be neglected and in this moment there is a red bar on the indicator to inform that we could have a safe sell entry by now.
http://bigimage.cz/photos/20141013141316673199612.gif .
http://i60.tinypic.com/6ptcug.jpg
Pair: USDJPY
Type of analysis: Technical
Time frame: H1
Trendline: Beraish under pivot
Fibonacci Indicator: Bearish expansion
William %R Indicator: Bearish (continouation trend)
Final decision: Bearish