USD/JPY Open 77.16 High 77.26 Low 76.65 Close 77.10

On Thursday Dollar/Yen increased with 60 pips. The currency couple appreciated from 76.65 to 77.25 yesterday, not matching the negative Interbank sentiment at almost -17%, closing the day at 77.10. This morning the Dollar is pushing up again against the Yen, limited by the 77.26 level for now. On the 1 hour chart new downward channel is on hold, while on the 3 hour chart quotes broke down of the wide trading range. Break above today's top and nearest resistance 77.25 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.65, and consistent break bellow it could strengthen the Yen further down towards next target 75.80. There are no major economic events for Japan today. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term bullish pressure. The value of the RSI indicator is negative and declining, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 77.25 78.13 79.00
Technical support levels: 76.65 75.80 74.00

Trading range: 77.25 - 76.60
Trend: Downward
Sell at 77.14 SL 77.44 TP 76.74

Already made +8 pips profit on USD/JPY today from the following sent to clients only signal:
5:23 GMT Buy USD/JPY at 77.16 SL 76.90 TP 77.66, exit sent at 5:54 GMT+1.
Total today +80, yesterday +177, as shown in details at http://www.zifx.com/performance.php.

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