USD/JPY Open 77.31 High 77.70 Low 77.06 Close 77.21

On Wednesday Dollar/Yen decreased sharply with 65 pips, matching the negative Interbank sentiment at under -51%. The currency couple depreciated from 77.70 to 77.06 yesterday, closing the day at 77.21. This morning the Dollar is trading quietly against the Yen, with movements within yesterday's range for now. On the 1 hour the trading is still caught in a range, while on the 3 hour chart the downward channel has turned into quiet trading. Break above yesterday's top and nearest resistance 77.70 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.06, and consistent break bellow it could strengthen the Yen further down towards next target 76.20. Today are Japan Real GDP Q2 and M2+CDs money supply, both at 23:50 GMT. Quotes are moving just bellow the even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and calm, MACD is thinly positive and tranquil, while CCI has just crossed down the 100 line on the 1 hour chart, giving overall neutral to light short signals.
Technical resistance levels: 77.70 78.58 79.41
Technical support levels: 77.06 76.20 75.37

Trading range: 77.50 - 76.85
Trend: Downward
Sell at 77.36 SL 77.66 TP 76.96

Already made +7 pips profit on USD/JPY today from the following sent to clients only signal:
5:26 GMT+1 Sell USD/JPY at 77.38 SL 77.64 TP 76.88, exit sent at 6:59 GMT+1.
Total today +105, yesterday +122, as shown in details at http://www.zifx.com/performance.php.

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