USD/JPY Open 76.67 High 76.76 Low 76.30 Close 76.63
On Tuesday Dollar/Yen traded within even narrower 16 pip range, not matching the negative Interbank sentiment at under -8%. The currency couple appreciated from 76.60 to 76.76 yesterday, closing the day at 76.63. This morning the Dollar surprisingly weakened against the Yen, dropping down to 76.30. On the 1 hour chart the small angle upward channel has vanished, while on the 3 hour chart quotes are still caught in narrow range. Break above yesterday's top and nearest resistance 76.76 would encourage further recovery of the Dollar. Immediate support is today's bottom at 76.30, and consistent break bellow it could strengthen the Yen further down towards next target 75.43. Today is Japan BoJ meeting minutes at 23:50 GMT. Quotes are moving just bellow the even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and inclining upwards, 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: 76.76 77.60 78.46
Technical support levels: 76.30 75.43 74.59
Trading range: 76.800 - 76.15
Sell at 76.67 SL 76.97 TP 76.27
Already made +9 pips profit on USD/JPY today from the following sent to clients only signal:
5:24 GMT+1 Sell USD/JPY at 76.70 SL 76.96 TP 76.20, exit sent at 9:19 GMT+1.
Total today +169, yesterday +118, as shown in details at http://www.zifx.com/performance.php.