7/19/2010 - EUR/JPY - THE VULCAN REPORT Review of EuroYen FOREX (EUR/JPY) as of Friday, July 16, 2010

THE VULCAN REPORT
Review of EuroYen FOREX (EUR/JPY)
as of Friday, July 16, 2010

Today's Price Action

Change   -1.1200 (-0.99%)

Weak Bids into the close.

MARKET SENTIMENT
 
PulseScan Swing Vix

PulseScan:     38.53
Swing Vix:     38.46

The Market Pulse is positive since it is trading above its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of    9 period(s) ago. The Swing Vix is above 29.  This is where it usually forms Resistance.  The Swing Vix usually forms Resistance before the underlying security.However, the Swing Vix just crossed below 39 from a topping formation.  This is a bearish sign.
A buy or sell signal is generated when the Swing Vix moves out of an overbought/oversold area.
The last signal was a Over-Bought Sell  0 period(s) Ago.
The Swing Vix does not currently show any Failure Swings.The Swing Vix and price are not diverging.
        Since the last Swing Vix signal, EuroYen FOREX's price has increased 1.81% , and has ranged from a high of 113.3600 to a low of 109.1400.
     
       MOMENTUM
     MARKET TREND - Currently the TREND is - Neutral within the Bearish KUMO Consolidation cloud(Possible Trend Reversal) with Upside Bullish Breakout risk. A close below 112.4200 is needed to re-establish the downward trend. However a close above 117.8650 will establish a new upward trend.
        TREND STRENGTH -
TRENDLINE RETRACEMENT
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. - 123.0200
The close is currently Below  it's Intermediate Term TRENDLINE RETRACEMENT. - 113.7236
The close is currently Above  it's Short Term TRENDLINE RETRACEMENT. - 111.8717


         INTRADAY PRICE PROJECTIONS
        RESISTANCE 112.9327
        SUPPORT 111.9372

       WEEKLY PRICE PROJECTIONS
       RESISTANCE 113.3600
       SUPPORT 107.3100

MONTHLY PRICE PROJECTIONS
Long term Trend Line resistance is currently at - 123.0200
Long term Trend Line support is currently at - 107.3100
BEAR MARKET DOWNTREND - (12-18mo)  PRICE TARGET =  75.8900

   
       VOLATILITY
On 7/16/2010, EuroYen FOREX closed 
below the upper band by 30.4%.

This combined with the steep uptrend suggests that the upward trend in prices has a good chance of continuing.  However, a short-term pull-back inside the bands is likely.


     IN PLAY

BULL MARKET LONG/SHORT Signals : 

THIS SECURITY IS NOT IN PLAY AT THIS TIME!

BEAR MARKET LONG/SHORT Signals :  

THIS SECURITY IS NOT IN PLAY AT THIS TIME!

This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. The Vulcan Report accepts no liability whatsoever for any loss arising from any use of this expert or its contents.liability whatsoever for any loss arising from any use of this expert or its contents. 
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