Yields on U.S. debt instruments such as the 10-year note, and 30-year bonds have been rising as the Federal Reserve has raised interest rates at each of the last FOMC meetings since March of this year. Currently, the Fed funds rate is between 3% and 3 ¼%.
The chart above is a daily Japanese Heikin-Ashi chart of the dollar index. The Japanese Heikin-Ashi chart is a variation of a standard Japanese candlestick chart in that it uses the same for data points; open, high, low, and close. However, it is the open that is calculated differently than a standard bar or candlestick chart.
Another type of Japanese chart that is excellent to determine the trend and more importantly key reversals is called a Japanese three-line break chart. It is analogous to the Western point and figure chart in that it is based on price and not time. The chart above is an example of the dollar as seen through a three-line break chart.
Lastly, this type of chart adds a projection candle which is drawn in a different color than created from a rally or correction as seen in the dollar index chart above.