USD/JPY Open 77.09 High 77.50 Low 76.80 Close 77.06

On Monday Dollar/Yen decreased with 50 pips, not matching the positive Interbank sentiment at almost +19%. The currency couple depreciated from 77.32 to 76.80 yesterday, closing the day at 77.06. This morning the Dollar spiked up against the Yen, ascending up to 77.50. On the 1 hour chart new downward channel is emerging, while on the 3 hour chart wide range trading has formed. Break above today's top and nearest resistance 77.50 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.80, and consistent break bellow it could strengthen the Yen further down towards next target 76.00. Today was Japan Industrial output at 4:30 GMT. Quotes are moving just bellow the close (indication for small movements) 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is thinly negative and declining, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 77.50 78.36 79.16
Technical support levels: 76.80 76.00 75.14

Trading range: 77.15 - 76.55
Trend: Downward
Sell at 77.05 SL 77.35 TP 76.65

Already made +5 pips profit on USD/JPY today from the following sent to clients only signal:
5:27 GMT Buy USD/JPY at 77.08 SL 76.82 TP 77.58, exit sent at 5:58 GMT+1.
Total today +177, yesterday +168, as shown in details at http://www.zifx.com/performance.php.

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