14-day RSI: Bullish signal The 14 day RSI is at 61.15 and is on the rise and is now at the highest point it has been since August last year. The ‘BUY’ signal triggered by the crossover of the 30 line from oversold levels in mid-December is still in place here.
Stochastics: Bullish signal The fast stochastic is at 96.21 and still rising well above the overbought line warning that the ‘BUY’ signal could be overdone here. The slow stochastic is not far behind at 94.37 and this too is rising.
MACD: Neutral signal The MACD indicator is rising fast, but both lines are still below zero which is still a ‘SELL’ signal. However, for choice, as the fast line is crossing above the slow line, look on this as an indication to take long JPY profits, with a turn above the zero line needed to confirm a ‘BUY’ signal. This could be an early ‘BUY’ signal, but technically confirmation should be waited for.
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