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Message: [QUOTE="Martin Kay, post: 106771, member: 25911"] [B][U]Weekly US Dollar / Japanese Yen-USDJPY[/U][I][U]As of 29/07/16[/U][/I][/B] A [I]big [/I]bearish [I]black candle has[/I] formed. Prices closed considerably lower than open. If the candle appears when prices are "high," it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area, a moving average, trend line, or price resistance level, the long black candle adds credibility to the resistance. Likewise, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area. The previous 10 [B]candlestick bars[/B], there are 5 white candles versus 5 black candles. The previous 50 [B]candlestick bars[/B], there are 24 white candles versus 26 black candles with a net of 2 black candles. A [I]engulfing bearish line[/I] has formed where a black candle's real body completely contains the previous white candle's real body. The [I]engulfing bearish[/I] pattern is bearish during an uptrend. It signifies that the momentum may be shifting from the bulls to the bears. If the [I]engulfing bearish[/I] pattern occurs during a downtrend (which is the case with US Dollar / Japanese Yen), it may be a [I]last engulfing bottom[/I] which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle's real body.[B]MACD[/B] is [B]BEARISH[/B] as the [B]MACD[/B] is below the signal line. The [B]MACD[/B] [B]crossed [/B]below the signal line 33 week(s) ago. Since the [B]MACD[/B] crossed the MACD moving average, US Dollar / Japanese Yen's price has decreased 15.67%, and has been fluctuating from a high of 123.538 to a low of 99.075. The [B]MACD[/B] is currently not in an Overbought/Oversold range. There have been no [B]divergence [/B]signals during the last 5 periods. No Stochastic Buy or Sell signals generated today. The last signal was a Buy 10 Week(s) Ago. The [B]RSI[/B] is not currently in a topping (above 70) or bottoming (below 30) range. A buy or sell signal generated when the [B]RSI[/B] moves out of an overbought/oversold area. The last signal was a Buy 2 week(s) ago. Currently the [B]RSI[/B] does not show any Failure Swings. The [B]RSI[/B] and price of US Dollar / Japanese Yen are not diverging. Currently, the [B]Momentum Oscillator[/B] does not show an overbought or oversold condition. The last [B]Directional Movement Indicators (DMI)[/B] signal was a [B]SELL[/B] 48 week(s) ago. There were no [B]SAR[/B] signals generated today. The last [B]SAR[/B] signal was a [B]Sell[/B] 6 week(s) ago. The close is currently [B]BELOW[/B] its 200 weekly moving average [B]BELOW[/B] its 50 weekly moving average [B]BELOW[/B] its 20 weekly moving average The current market condition for US Dollar / Japanese Yen is [B]Very Bearish[/B] US Dollar / Japanese Yen closed above the lower [B]Bollinger Band[/B] by 14.1%. [B]Bollinger Bands[/B] are 40.94% wider than normal. [/QUOTE]

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