Technical Indicators - Japanese Yen, Euro, British Pound, Foreign Currencies

(UPDATED AS OF THE U.S. CLOSE ON THURSDAY, SEPTEMBER 6)

(UPDATED NIGHTLY SUNDAY THROUGH THURSDAY)

JAPANESE YEN:

TECHNICAL FORECAST: Short term indicators are beginning to turn mixed from a mostly positive position as some indicators are showing signs of potentially turning down. A further significant decline will break the uptrend.

The Yen was lower today (Thursday). The SEPTEMBER contract closed at .8685 from .8702 yesterday, now still below the high of .89 in June (2006). Click for Japanese Yen Daily Chart (For nighttime trading quote: (CME)-Globex)

The short term technical Indicators have weakened in the past few days. A further significant decline will turn the indicators downward.

(Click here for a longer term look at the Yen).

The Yen was at the top of a downtrend channel around .95 two years ago where it met resistance. The Yen has since been in a downtrend. The Yen has been declining since January (2005), having reached .99 in January, .98 in March, and 95 in June, a series of lower rally highs.

(Click here for a look at recent activity in the Dollar Index.) (Click here for a longer term look at the Dollar.)

Some background:

The Yen has recovered in the past year - after closing at about .75 at the end of February 2002, the lowest point in 3 years, the Yen recovered and so far has been able to sustain the recovery.

Click to see the 2 Year chart.

Click on the Weekly Chart, Japanese Yen to see this series of declining prices.

The longer term technical indicators appear negative: JY Monthly. You will definitely see a pattern of lower highs and lower lows beginning early last year.

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