Long term:  lower than Historical low?

On a yearly basis, Bollinger bands are shrinking and the spread is minimal. A pseudo bearish no-crossover is the status for our 7 / 23 years moving averages. Our stochastic will be overbought at the beginning of the next period (same pattern for our MACD?) The decline in progress should continue for some periods. Below 89.59 (Historical Low), a long tem collapse is not ruled out.

On a quarterly basis, Bollinger bands spread is not minimal but expending strongly. A pseudo bearish no-crossover is in progress with our stochastic and MACD. As long as our MACD is not oversold, the decline will continue.

On a monthly basis, Bollinger bands spread is not minimal but increase. For our 7 / 23 months moving averages, a bearish no-crossover is in progress. As long as our MACD is not oversold, the decline will continue.

Idea: below LY, 89.5 is our next target

Bet: Very bearish if PY (101.75) fails as a support

R = PM (123.22);     S = LY (99.72), 89.59 (Historical low), – – -.

 

Medium term: towards UW?

 On a weekly basis, the status for our 7 / 23 weeks moving averages is a bearish no-crossover. A bullish no-crossover is the status for our stochastic and MACD. Above MW (end of period), UW could be our next objective.

Idea: focus on MW

Bet: very bearish if MW acts as a resistance

R = MW (111.35), UW (116.55);           S = LW (106.15), –

 

Short term: recovery

On a daily basis, a recovery is in progress. With our weekly trend, no bullish pattern could develop.

Idea: rise as long as our stochastic is not overbought.  

Bet: very choppy on an intraday basis.

R = MW (111.35);   S = MD (107.71)

 

 

Conclusion: BOJ is in the game…