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Technicals

USD/JPY Technical Analysis 25 March 2008

25 Mar, 2008 @ 08:42 am EST
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USD/JPY 100.54 - 25 March

USD/JPY Open 100.70 High 100.39 Low 97.99 Close 99.23

Resistance for the US Dollar against the Japanese Yen is today's top at 101.00, which provoked sharp descent last night. Following is the broken ex bottom for many years at by 100.70, and the top from 11 March 103.50. In downward direction support is expected at 100.05, followed by yesterday's bottom 99.40, and 98.60.

Technical resistance levels: 101.00 101.70 103.50

Technical support levels: 100.05 99.40 98.60

Trading range: 100.65 - 100.00

Trend: Downward

Sell at 100.54 SL 100.84 TP 100.14

Already made +50 pips profit on USD/JPY today from the following signal:

6:01 GMT Buy USD/JPY at 100.11 SL 99.85 TP 100.61 TP reached at 8:26 GMT.

Total results today +107 pips, on Friday +93, as shown at www.zifx.com/performance.php

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