USD/JPY Open 76.92 High 77.34 Low 76.76 Close 76.87
On Monday Dollar/Yen traded within very narrow 30 pip range. The currency couple appreciated from 77.76 to 76.99 yesterday, matching the positive Interbank sentiment at above +19%, closing the day at 76.87. This morning the Dollar strengthened against the Yen, jumping up to 77.34, than consolidated. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart wide range trading has formed. Break above today's top and nearest resistance 77.34 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.76, and consistent break bellow it could strengthen the Yen further down towards next target 75.90. Today were Japan All industry index, Leading and Coincident indicators composite index, at 4:30 and 5 GMT respectively. Quotes are moving just bellow the crossed 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is thinly negative and calm, MACD is positive and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving over all neutral to light short signals.
Technical resistance levels: 77.34 78.19 79.00
Technical support levels: 76.76 75.90 75.08
Trading range: 77.05 - 76.40
Sell at 76.92 SL 77.22 TP 76.52
Already made +4 pips profit on USD/JPY today from the following sent to clients only signal:
5:23 GMT Buy USD/JPY at 77.04 SL 76.78 TP 77.54, exit sent at 6:26 GMT+1.
Total today +25, yesterday +145, as shown in details at http://www.zifx.com/performance.php.