Indicators and patterns
10/31/2024
Indicators and patterns
The Chande Momentum Oscillator (CMO) is a technical indicator that measures the momentum of a financial instrument's price. In this case, it was applied to the USD/JPY currency pair on a 15-minute timeframe.The CMO generates values that fluctuate above and below a zero line, indicating overbought and oversold conditions. A bearish signal is generated when the CMO crosses below the zero line, suggesting a potential downtrend in the price.
In this specific instance, the CMO for USD/JPY on the 15-minute chart has turned bearish, indicating a selling opportunity. The value of the CMO was 152.17999 at the time of the signal, which occurred on October 31, 2024, at 6:45 UTC. Traders may interpret this as a sign to consider selling USD/JPY based on the momentum shift indicated by the CMO.
This is not investment advice. Remember to verify the information provided here.
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