The price line of USDJPY has made three big waves since Sep 8th. As can be seen from the chart, the three waves have made some breakouts in different directions. However, the price went in a downward trend. The price broke down the Bollinger Bands three times but only broke up once. Also, from the blue line, we can see that the downward trend is significant.
The standard deviation remains at a high level because those three waves were big fluctuations, so we don’t need to worry about that. The MACD has made a bullish cross; however, it still moves below the zero level. Also, the price moved below the Ichimoku cloud, which is a bullish signal. Recently the price touched the middle line of the Bollinger Bands; it already meets resistance here. The downward trend is still strong. Although the bearish signals are not clear, the big picture still shows a downward trend.
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