USD/JPY Open 78.13 High 78.29 Low 77.88 Close 78.18

On Friday Dollar/Yen increased insignificantly with 40 pips, matching the positive Interbank sentiment at nearly +7%. The currency couple appreciated from 77.88 to 78.29 on Friday, closing the week at 78.18. This morning the Dollar is trading quietly against the Yen, with movements within Friday's range for now. On the 1 hour chart higher level range trading is forming, while on the 3 hour chart also upper level range trading has formed. Break above Friday's top and nearest resistance 78.29 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 77.88, and consistent break bellow it could strengthen the Yen further down towards next target 77.00. Today were Japan Leading and Coincident indicators composite index, both at 5 GMT. Quotes are moving bellow the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term bearish and medium term neutral pressure. The value of the RSI indicator is negative and hesitant, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 78.29 79.12 80.00
Technical support levels: 77.88 77.00 76.18

Trading range: 78.25 - 77.60
Trend: Downward
Sell at 78.12 SL 78.42 TP 77.72

Already made +3 pips profit on USD/JPY today from the following sent to clients only signal:
5:25 GMT Sell USD/JPY at 78.12 SL 78.38 TP 77.62, exit sent at 7:00 GMT+1.
Total today +124, on Friday +131, as shown in details at http://www.zifx.com/performance.php.

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