Baxia Markets
September 29, 2021

USDJPY Skyrockets

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As can be seen from the 4-hour chart, the price has risen by 2.6% in seven days. This jump began on Sep 22nd, where the Bollinger Bands did not make any significant moves. Although the Ichimoku became thin and twisted with the price line, the situation lasted for a while. So there was no signal warning for this spurt upwards; it was too abrupt. 




The move up is continuing. The price even reached 112.049. So, will this condition last? I would say it could. Although the Stochastics and Williams R% have already been overbought since the beginning of this move, the price kept going up, and the indicators remain overbought. Ichimoku has gone up and thickened; however, it still has not caught up with the price line; also, when the Ichimoku becomes thick, the price may continue in the same direction. The Parabolic SAR has been making a stable upward trend, which means this upward trend has become a “mild” trend to the SAR.


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forex, indices, trading conditions, technical analysis, trading indicator

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