USD/JPY Open 80.45 High 80.84 Low 80.16 Close 80.50
On Thursday Dollar/Yen increased slightly with 50 pips, than trading remained within the range, not matching the negative Interbank sentiment at bellow -15%. The currency couple appreciated from 80.33 to 80.84 yesterday, closing the day at 80.50. This morning the Dollar weakened against the Yen after the strong Ifo from Germany, dropping down to 80.16. On the 1 hour chart trading has moved into a range, while on the 3 hour chart quotes are moving within wider trading range. Break above yesterday's top and nearest resistance 80.84 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 80.33, and consistent break bellow it could strengthen the Yen further down towards next target 79.50. There are no major economic events for Japan today. Quotes have crossed down the 20 and 50 EMA on the 1 hour chart, indicating strong bearish pressure. The value of the RSI indicator is negative and tranquil, MACD is negative and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 80.84 81.70 82.59
Technical support levels: 80.16 79.30 78.44
Trading range: 80.35 - 79.75
Sell at 80.25 SL 80.55 TP 79.85
Already made +10 pips profit on USD/JPY today from the following signal:
5:29 GMT+1 Buy USD/JPY at 80.49 SL 80.23 TP 80.99, exit sent at 8:24 GMT+1.
Total today +130, yesterday +120, as shown in details at http://www.zifx.com/performance.php.