FXY slides to lowest close since January 18th


CurrencyShares Japanese Yen ETF (FXY) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
FXY closes below its opening price unable to hold early session gains
FXY breaks below previous session low
FXY falls to lowest close since January 18th
FXY ends the day indecisive
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

FXY ended Thursday at 86.46 losing $0.33 (-0.38%). Today's closing price of 86.46 marks the lowest close since January 18th. Trading $0.08 higher after the open, the ETF was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Wednesday's low at 86.79, the market confirms its breakout through the previous session's low having traded $0.40 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for FXY
Volatility

Thursday's trading range was $0.17 (0.2%), that's far below last trading month's daily average range of $0.27. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly below average.

Trend

While still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for CurrencyShares Japanese Yen ETF
Condition Forecast Direction Win Avg Worst Best Events
Bearish Break through SMA 50 TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Black Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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