FXY slides to lowest close since January 18th
CurrencyShares Japanese Yen ETF (FXY) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (FXY as at May 17, 2018):
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.
While still in a long-term uptrend, the short and medium-term trends both turned bearish already.