USD/JPY Open 76.83 High 76.94 Low 76.25 Close 76.80
On Tuesday Dollar/Yen increased with 70 pip, not matching the negative Interbank sentiment at nearly -50%. The currency couple appreciated from 76.25 to 76.94 yesterday, closing the day at 76.80. This morning the Dollar is correcting against the Yen, with movements still within yesterday's range for now. On the 1 hour chart the downward channel is on hold, while on the 3 hour chart quotes are still moving quietly in narrow range. Break above yesterday's top and nearest resistance 76.94 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.25, and consistent break bellow it could strengthen the Yen further down towards next target 75.39. Today is Japan Retail sales at 23:50 GMT. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is neutral and declining, while CCI is has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 76.94 77.79 78.62
Technical support levels: 76.25 75.39 74.50
Trading range: 76.60 - 76.00
Sell at 76.50 SL 76.80 TP 76.10
Already made +6 pips profit on USD/JPY today from the following sent to clients only signal:
5:27 GMT+1 Buy USD/JPY at 76.53 SL 76.27 TP 77.03, exit sent at 6:50 GMT+1.
Total today +158, yesterday +124, as shown in details at http://www.zifx.com/performance.php.