USD/JPY Open 76.77 High 76.88 Low 76.56 Close 76.73
On Monday Dollar/Yen continued trading within narrow 35 pip range, not matching the positive Interbank sentiment at almost +3%. The currency couple depreciated from 76.88 to 76.56 yesterday, closing the day at 76.73. This morning the Dollar is trading quietly against the Yen, with movements within yesterday's range for now. On the 1 hour chart the small angle upward channel is vanishing, while on the 3 hour chart quotes are still caught in narrow range. Break above yesterday's top and nearest resistance 76.88 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.56, and consistent break bellow it could strengthen the Yen further down towards next target 75.67. Today are Japan BoJ monthly economic report and Japan Machinery orders, at 5:30 and 23:50 GMT respectively. Quotes are moving just bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and declining, MACD is thinly negative and calm, while CCI has just crossed down the 100 line on the 1 hour chart, giving over all neutral to light short signals.
Technical resistance levels: 76.88 77.77 78.62
Technical support levels: 76.56 75.67 74.80
Trading range: 76.50 - 77.15
Buy at 76.64 SL 76.34 TP 77.04
Already made +8 pips profit on USD/JPY today from the following sent to clients only signal:
5:26 GMT+1 Buy USD/JPY at 76.65 SL 76.39 TP 77.15, exit sent at 7:45 GMT+1.
Total today +118, yesterday +134, as shown in details at http://www.zifx.com/performance.php.