Trend reversal? After five days of going down, Dollar/Yen up 13 pips today

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(Last update 9:11pm EST, May 18, 2021)

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Hesitant but green: from an earlier low of 108.83, dollar/yen is up to 109.03, gaining 13 pips compared to 108.89 at the start of the day (0.12%).

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As the day gets underway, a chart visual study suggests the Dollar/Yen nearest support level is at 107.86. In terms of trend indicators, we can see that although up today, it's worth noting that earlier the dollar/yen dropped below the 21 day Simple Moving Average as it was trading at 108.93, usually an indication that a negative trend is ahead. Asset volatility analysis shows that a slight indication of a slowdown comes from looking at the Bollinger bands: the upper band is at 109.76 – a high enough level to usually suggest the Dollar/Yen is trading above its value.

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Overall, looking at the technical analysis landscape, it seems the Dollar/Yen is likely to reverse course and start pointing down in the short term.

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The Dollar/Yen started in 2021 by gaining 5.5%.

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UK's Johnson announces urban renewal plans after promise to "level up" https://t.co/vn8vJXth0D pic.twitter.com/fzNIsXHk7x
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— Reuters (@Reuters) May 19, 2021

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At 0.8969 Dollar/Swiss down to its lowest value in 2 months

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(Last update 9:11pm EST, May 18, 2021)

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After starting the day at 0.8979 dollar/swisss dropped to 0.8969, hitting its lowest point in 2 months, it later recovered 9 pips and is now trading at 0.8978

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As the day gets underway, a chart visual study suggests the Dollar/Swiss resistance level is at 0.9089. In terms of trend indicators, we can see that the CCI indicator is below -100. When the CCI (Commodity Channel Index) is at this level, it means the price is below the average price as measured by the indicator, indicating a possible start of a new downtrend. Momentum evaluation shows The Relative Strength Index indicates the Dollar/Swiss is in oversold condition, allowing more gains. However, the lower Bollinger band is at 0.8949, indicating a positive move might be next.

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Overall, looking at the technical analysis landscape, it seems Dollar/Swiss might be pointing down in the short term.

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Dollar/Swiss started in 2021 by gaining 2.03%.

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UK's Johnson announces urban renewal plans after promise to "level up" https://t.co/vn8vJXth0D pic.twitter.com/fzNIsXHk7x
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— Reuters (@Reuters) May 19, 2021

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Steady Aussie/Dollar parks at 0.7787

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(Last update 9:11pm EST, May 18, 2021)

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A mostly flat day so far for the Aussie/Dollar ranging between 0.7803 and 0.7783 and is now at 0.7787.

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As the day gets underway, a chart visual study suggests the Aussie/Dollar might start to recover soon because it is getting close and is now only 28 pips from the support line at 0.7759, Obviously, dipping below it could be an indication that further losses are ahead.

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Overall, looking at the technical analysis landscape, it seems the Aussie/Dollar might start pointing upward in the short term.

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The Australian dollar started in 2021 by gaining 0.95%.

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UK's Johnson announces urban renewal plans after promise to "level up" https://t.co/vn8vJXth0D pic.twitter.com/fzNIsXHk7x
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— Reuters (@Reuters) May 19, 2021

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