THE VULCAN REPORT
Review of US Dollar Yen FOREX (USD/JPY)
as of Friday, July 16, 2010
Today's Price Action
Change -0.7100 (-0.81%)
Weak Bids into the close.
MARKET SENTIMENT
PulseScan Swing Vix
PulseScan: -12.86
Swing Vix: -11.34
The Market Pulse is negative since it is trading below its zero signal line.The PulseScan crossed below the Swing Vix creating a DOWN Trend Channel as of 0 period(s) ago. This means that negative momentum has entered the market. Expect sideways to lower prices within the next 3-5 days The Swing Vix is not currently in a topping (above 39) or bottoming (below -39) range.
A buy or sell signal is generated when the Swing Vix moves out of an overbought/oversold area.
The last signal was a Over-Sold Buy 9 period(s) Ago.
The Swing Vix does not currently show any Failure Swings.The security price has set a new 14-period low while the Swing Vix has not. This is a bullish divergence. Since the PulseScan leads the market 3-5 days out we will wait to see if an upside breakout occurs.
Since the last Swing Vix signal, US Dollar Yen FOREX's price has been unchanged, and has ranged from a high of 87.4900 to a low of 86.2500.
MOMENTUM
MARKET TREND - Currently the TREND is VERY-BEARISH - Heavy Distribution-The DownTrend is still entact with prices holding below trendline resistance at- 89.9250.
TREND STRENGTH - WEAK - RANGE BOUND (Prices have ceased trending and have become consolidated at this time) The market has put in a short term bottom. This means that the bears are liquidating short positions thus taking some profit off the table.
TRENDLINE RETRACEMENT
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. - 89.9250
The close is currently Below it's Intermediate Term TRENDLINE RETRACEMENT. - 90.0843
The close is currently Below it's Short Term TRENDLINE RETRACEMENT. - 87.9788
INTRADAY PRICE PROJECTIONS
RESISTANCE 87.2110
SUPPORT 86.5290
WEEKLY PRICE PROJECTIONS
RESISTANCE 89.1500
SUPPORT 86.9700
MONTHLY PRICE PROJECTIONS
Long term Trend Line resistance is currently at - 89.9250
Long term Trend Line support is currently at - 84.7800
BEAR MARKET DOWNTREND - (12-18mo) PRICE TARGET = 74.4900
BEAR MARKET PLUNGE PROTECTION TEAM CIRCUIT BREAKERS
DEFLATED BUBBLE PHASE I - (24-36mo) PRICE DESTRUCTION TARGET = 64.2000
DEFLATED BUBBLE PHASE 2 - (42-60mo) (PANIC SELLING EXTREME FEAR) PRICE DESTRUCTION TARGET = 53.9100
DEFLATED BUBBLE PHASE 3 - (72mo+) (THE STOCK WILL PROBABLY BE DELISTED AND/OR FILE FOR BK 11) PRICE DESTRUCTION TARGET = 43.6200
VOLATILITY
On 7/16/2010, US Dollar Yen FOREX closed
above the lower band by 5.9%.
This combined with the steep downtrend suggests that the downward 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 :
Possible 2nd PulseWave Break-Down Continuation SHORT ENTRY- 86.1880
Profit Target 81.8400
Stop Loss 87.5520
WARNING - Inside Day / Bearish Retracement rally off previous low (Possible Breakout above) - LONG ENTRY- 87.5520
Profit Target 90.5200
Stop Loss 86.7563
Our Price Action Momentum indicators are pointing Down possible selloff beyond intraday support - SHORT ENTRY - 86.1880
Profit Target 83.0800
Stop Loss 87.5520
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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