Technicals

USD/JPY 108.62 - 21 August

The US Dollar descended significantly yesterday against the Japanese Yen dropping from Wednesday's top 110.27 to today's bottom 108.60, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support further down is expected at 108.00, the break of which would open potential drop towards 107.40. In upward direction next resistance further up is expected at 111.00, followed by 111.75.

Technical resistance levels: 110.25 111.00 111.75

Technical support levels: 108.60 108.00 107.40

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

6:21 GMT+1 Sell USD/JPY at 109.34 SL 109.60 TP 108.84 TP reached at 7:24 GMT+1.

Total today +122, yesterday +103, as shown at www.zifx.com/performance.php