USD/JPY Technical Analysis 13 November 2008

13 November 2008 @ 06:54 am EDT

USD/JPY 95.64 - 13 November

USD/JPY Open 95.63 High 96.25 Low 95.42 Close 97.66

The U.S. currency continued falling against the Yen. Bottom at 94.47 was reached, and closing the day at 94.68. During the Asian session there was rising pressure towards 95.55. The model remains consolidating in the short term. Immediate support is yesterday's bottom at 94.45. Short term resistance is 96.55.The CCI indicator crossed up the line 100 on a daily chart, indicating a potential pressure in upward direction.

Technical resistance levels: 96.55 97.65 98.50

Technical support levels: 94.45 93.55 92.70

Trading range: 95.50 - 96.15

Trend: Upward

Buy at 95.64 SL 95.34 TP 96.04

Already made +34 pips profit on USD/JPY today from the following signal:

5:54 GMT Sell USD/JPY at 95.76 SL 96.02 TP 95.26 exited at 7:36 GMT.

Total today +165, yesterday +154, as shown at www.zifx.com/performance.php

For more forex information, go to www.iForex.bg

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