USD/JPY Open 77.06 High 77.15 Low 76.85 Close 77.00
On Wednesday Dollar/Yen traded within narrow 30 pip range. The currency couple depreciated from 77.15 to 76.85 yesterday, matching the negative Interbank sentiment at almost -12%, closing the day at 77.00. This morning the Dollar is trading quietly against the Yen, and within yesterday's range for now. On the 1 hour chart new downward channel is emerging, while on the 3 hour chart wide range trading has formed. Break above yesterday's top and nearest resistance 77.15 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.85, and consistent break bellow it could strengthen the Yen further down towards next target 76.00. There are no major economic events for UK EU Japan today. Quotes are moving almost in line with the even 20 and 50 EMA on the 1 hour chart, indicating neutral market. The value of the RSI indicator is neutral and calm, MACD is neutral and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all neutral to light short signals.
Technical resistance levels: 77.15 78.00 78.79
Technical support levels: 76.85 76.00 75.18
Trading range: 77.15 - 76.50
Sell at 77.01 SL 77.31 TP 76.61
Already made +12 pips profit on USD/JPY today from the following sent to clients only signal:
5:23 GMT Sell USD/JPY at 77.03 SL 77.29 TP 76.53, exit sent at 9:09 GMT+1.
Total today +159, yesterday +177, as shown in details at http://www.zifx.com/performance.php.