USD/JPY Open 77.18 High 77.48 Low 76.30 Close 77.24

On Wednesday Dollar/Yen increased strongly with almost 120 pips, not matching the negative Interbank sentiment at under -8%. The currency couple appreciated from 76.30 to 77.48 yesterday, closing the day at 77.24. This morning the Dollar is trading quietly against the Yen, moving within yesterday's range for now. On the 1 hour chart the small angle upward channel has renewed, while on the 3 hour chart quotes are still caught in narrow range. Break above yesterday's top and nearest resistance 77.48 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.30, and consistent break bellow it could strengthen the Yen further down towards next target 75.43. Today are Japan Corporate goods price index and M2+CDs money supply, both at 23:50 GMT. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is positive and dropping, while CCI has crossed down the 100 line on the 1 hour chart, giving over light short signals.
Technical resistance levels: 77.48 78.33 79.15
Technical support levels: 76.30 75.43 74.59

Trading range: 77.00 - 76.35
Trend: Downward
Sell at 76.87 SL 77.17 TP 76.47

Already made +3 pips profit on USD/JPY today from the following sent to clients only signal:
5:25 GMT+1 Sell USD/JPY at 77.06 SL 77.32 TP 76.56, exit sent at 8:16 GMT+1.
Total today +127, yesterday +169, as shown in details at http://www.zifx.com/performance.php.

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