USD/JPY Open 78.29 High 78.47 Low 78.19 Close 78.24
On Monday Dollar/Yen traded within narrow 25 pip range. The currency couple depreciated from 78.44 to 78.19 yesterday, matching the negative money flow sentiment at around -12%, closing the day at 78.24. This morning the Dollar ascended slightly against the Yen, reaching up to 78.47.
On the 1 hour chart range trading has formed, while on the 3 hour chart quotes are still moving within wider range. Break above today's top and nearest resistance 78.47 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 78.19, and consistent break bellow it could strengthen the Yen further down towards next target 77.30.
There are no major economic events for Japan today.
Quotes are moving in line with the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bearish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 78.47 79.30 80.18
Technical support levels: 78.19 77.30 76.46
Today so far +2 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Sell USD/JPY at 78.35 SL 78.61 TP 77.85, exit sent at 5:20 GMT+1.
Today so far +40, yesterday +59, as shown at http://www.zifx.com/performance-past.php.