USD/JPY Open 77.22 High 77.45 Low 76.85 Close 77.15
On Friday Dollar/Yen increased with 60 pips, not matching the negative Interbank sentiment at bellow -17%. The currency couple appreciated from 76.85 to 77.45 on Friday, closing the week at 77.15. This morning the Dollar is pushing up against the Yen again, but movements are limited by the 77.45 support. On the 1 hour chart the range trading has formed, while on the 3 hour chart quotes are still caught in narrow range. Break above Friday's top and nearest resistance 77.45 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 76.85, and consistent break bellow it could strengthen the Yen further down towards next target 75.69. Today was Japan Industrial output at 4:30 GMT. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is thinly positive and calm, MACD is positive and tranquil too, while CCI has crossed up the 100 line on the 1 hour chart, giving over light long signals.
Technical resistance levels: 77.45 78.30 79.19
Technical support levels: 76.85 75.69 74.50
Trading range: 77.15 - 76.80
Buy at 77.29 SL 76.99 TP 77.69
Already made +10 pips profit on USD/JPY today from the following sent to clients only signal:
5:25 GMT+1 Sell USD/JPY at 77.19 SL 77.45 TP 76.69, exit sent at 6:59 GMT+1.
Total today +163, on Friday +119, as shown in details at http://www.zifx.com/performance.php.