The QuantCycles Oscillator is indicating a major bottom in the USDJPY currency pair, reports John Rawlins.

The USDJPY currency pair appears to be making a major low vs. the U.S. dollar and is ready to turn higher (decrease in value vs. USD).

The currency pair has been fighting our long-term QuantCycles Oscillator over the last several months as the yen has declined (increased in value). The weekly oscillator has more upside before turning which has pushed it near oversold territory (see chart).

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The daily oscillator has been bottom bouncing near oversold territory as it expects a more pronounced rise in the coming weeks (see chart below).

More importantly, it has recently turned higher and the market responded before dropping again, pushing more oversold. The daily oscillator expects this up move to last nearly three weeks.

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The recent weakness pushed the USDJPY into massive oversold territory on our four-hour chart and expects it turn much higher (see chart). This move has already begun and should continue throughout this week.  

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John Rawlins described the value of the QuantCycles Oscillator recently at The Orlando MoneyShow.

The QuantCycles indicator is a technical tool that employs proprietary statistical techniques and complex algorithms to filter multiple cycles from historical data, combines them to obtain cyclical information from price data and then gives a graphical representation of their predictive behavior (center line forecast). Other proprietary frequency techniques are then employed to obtain the cycles embedded in the prices. The upper and lower bands of the oscillator represent a two-standard deviation move from the predictive price band and are indicative of extreme overbought/oversold conditions.