USD/JPY Open 77.07 High 77.50 Low 76.85 Close 77.02
On Tuesday Dollar/Yen decreased with 60 pips, matching the negative Interbank sentiment at bellow -18%. The currency couple depreciated from 77.50 to 76.90 yesterday, closing the day at 77.02. This morning the Dollar weakened slightly further against the Yen, reaching 76.85. On the 1 hour chart new downward channel has emerged, while on the 3 hour chart wide range trading has formed. Break above yesterday's top and nearest resistance 77.50 would encourage further recovery of the Dollar. Immediate support is today's bottom at 76.85, and consistent break bellow it could strengthen the Yen further down towards next target 76.00. Today was Japan BoJ meeting announcement at 3:30 GMT. Quotes are moving just bellow the even (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 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: 77.50 78.36 79.16
Technical support levels: 76.85 76.00 75.18
rading range: 77.10 - 76.45
Sell at 76.98 SL 77.28 TP 76.58
Already made +8 pips profit on USD/JPY today from the following sent to clients only signal:
5:22 GMT Sell USD/JPY at 77.02 SL 77.28 TP 76.52, exit sent at 7:26 GMT+1.
Total today +125, yesterday +177, as shown in details at http://www.zifx.com/performance.php.