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Technicals

USD/JPY Technical Analysis 14 May 2008

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14 May 2008 @ 07:32 am EST
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USD/JPY 105.12 - 14 May

USD/JPY Open 102.82 High 105.42 Low 103.42 Close 104.68

The US Dollar rose sharply against the Japanese Yen, reaching 105.45, which is the first resistance for the currency couple today. Next resistance further up is expected at 106.00, followed by 106.70. In downward direction first support for today is expected at today's bottom 104.55. Next support downwards is expected at 103.45, followed by 102.60.

Technical resistance levels: 105.45 106.00 106.70

Technical support levels: 104.55 103.45 102.60

Trading range: 105.00 - 105.65

Trend: Upward

Buy at 105.12 SL 104.82 TP 105.52

Already made +48 pips profit on USD/JPY today from the following signal:

6:05 GMT+1 Buy USD/JPY at 104.74 SL 104.48 TP 105.24 exited at 8:19 GMT+1.

Total today +187, yesterday +142, as shown at www.zifx.com/performance.php

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