USD/JPY Open 76.78 High 77.07 Low 76.61 Close 76.77

On Wednesday Dollar/Yen increased insignificantly with 65 pip, not matching the negative Interbank sentiment at bellow -47%. The currency couple appreciated from 76.61 to 77.07 yesterday, closing the day at 76.77. This morning the Dollar is trading quietly against the Yen, at the lower side of yesterday's range for now. On the 1 hour chart small angle upward channel has emerged, while on the 3 hour chart quotes are still caught in narrow range. Break above yesterday's top and nearest resistance 77.07 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.61, and consistent break bellow it could strengthen the Yen further down towards next target 75.75. There are no major economic events for Japan today. Quotes are moving just bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is neutral and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 77.07 77.90 78.71
Technical support levels: 76.61 75.75 74.93

Trading range: 76.85 - 76.20
Trend: Downward
Sell at 76.73 SL 77.03 TP 76.33

Already made +2 pips profit on USD/JPY today from the following sent to clients only signal:
5:25 GMT+1 Buy USD/JPY at 76.74 SL 76.48 TP 77.24, exit sent at 5:48 GMT+1.
Total today +108, yesterday +76, as shown in details at http://www.zifx.com/performance.php.

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