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Technicals

USD/JPY Technical Analysis 9 July 2008

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09 July 2008 @ 07:12 am EST
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USD/JPY 107.54 - 9 July

USD/JPY Open 106.76 High 107.73 Low 106.25 Close 107.52

The US Dollar is trading within a range from the beginning of this week against the Japanese Yen. The currency couple started climbing yesterday from the bottom 106.25 to today's top 107.64, which are the first support and resistance levels respectively for the currency couple today. If the positive trend continues, next resistance further up is expected at 108.35, the break of which would open potential rise towards 109.00. In downward direction next support is expected at 105.80, followed by 105.00.

Technical resistance levels: 107.75 108.35 109.00

Technical support levels: 106.25 105.80 105.00

Trading range: 107.65 - 107.00

Trend: Downward

Sell at 107.54 SL 107.84 TP 107.14

Already made +21 pips profit on USD/JPY today from the following signal:

5:58 GMT+1 Sell USD/JPY at 107.22 SL 107.48 TP 106.72 exited at 6:20 GMT+1.

Total today +113, yesterday +127, as shown at www.zifx.com/performance.php

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