Forex Trade Alert for - Symbol USD/JPY.

Forex Trade Alert for Monday Aug 11, 2008.

The Momentum Indicator and ( Partial Dark Cloud Cover ) candlestick pattern indicate a reversal may be coming. I’f you in the trade, It may be wise to exit this trade. Market is holding above the 108.5900 level. 4XGENIE Action: ==> SELL USD/JPY at 109.21. Stop at 110.50. Elloitt Wave 5(b) could drop down to 107.85 or 106.30. The support level of 110.27 was broken when prices closed below the middle pitchfork line. The market seems to be weakening. NOTE: The width of the Bollinger Bands is expanding which indicates that prices are trending. The CCI is above 100. This currency pair usd/jpy is overbought at this time.

A divergence in the MACD indicator has been found.

Next Day Trading Ranges for Monday Aug 11, 2008.

The 20 day moving average of the daily trading range is 109 pips and the 60 day moving average of the daily trading range is 105 pips. This shows that volatility has increased in the short term. The percentage of updays when the open/low ratio is less than 25% is 58.87 percent. This means that if this currency pair usd/jpy does not drop more than 26 pips from the opening price then there is a 58.87 percent chance that this will be an upday.

Monthly Pivots Points.

The [R3] or the most extreme high trading range is 111.34.

The [R2] or the extreme high trading range is 110.87.

The [R1] or the high trading range is 110.49.

The [P] or pivot point is 110.02.

The [S1] or the low trading range is 109.64.

The [S2] or the extreme low trading range is 109.17.

The [S3] or the most extreme low trading range is 108.79.

Current Day Trading Session:

Momentum is continuing upward at the present time.

Next Day Trading Session:

If the next day’s close is below 107.49 then that could be a sign that the current upward momentum is reversing.

FOREX GENIE