Technical Analysis Daily: USD/JPY

USD/JPY 91.37

USD/JPY Open 91.32 High 92.40 Low 90.81 Close 91.45

On Monday Dollar/Yen traded with a decrease. The currency couple made a bottom at 90.81 and closed the day slightly higher at 91.45. On the 1 hour chart we have a formed symmetrical triangular formation, which suggests consolidation phase. Break out of the triangle will give us a clearer movement direction. Signals remain neutral for now. The first support level is yesterday's bottom at 90.81, followed by 89.95. The CCI indicator has just crossed down the 100 line on the 1 hour chart, giving signals for potential decreasing pressure.

Technical resistance levels: 92.35 93.25 94.70

Technical support levels: 90.80 89.95 88.60

Trading range: 91.50 - 90.85

Trend: Downward

Sell at 91.37 SL 91.67 TP 90.97