USD/JPY Open 77.68 High 77.79 Low 77.58 Close 77.66
On Wednesday Dollar/Yen traded within under 20 pip range. The currency couple depreciated from 77.79 to 77.62 yesterday, matching the negative Interbank sentiment at under -17%, closing the day at 77.66. This morning the Dollar weakened further against the Yen, reaching 77.30. On the 1 hour chart the upward channel is on hold, while on the 3 hour chart trading is still within wide range. Break above yesterday's top and nearest resistance 77.79 would encourage further recovery of the Dollar. Immediate support is today's bottom at 77.30, and consistent break bellow it could strengthen the Yen further down towards next target 76.44. Today are Japan Real GDP Q3 and M2+CDs money supply, both at 23:50 GMT. Quotes are moving way bellow the close 20 and 50 EMA on the 1 hour chart, indicating strong bearish pressure. The value of the RSI indicator is negative and consolidating, MACD is negative and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 77.79 79.63 80.50
Technical support levels: 77.30 76.44 75.60
Trading range: 77.55 - 76.90
Sell at 77.41 SL 77.71 TP 77.01
Already made +31 pips profit on USD/JPY today from the following sent to clients only signal:
5:24 GMT Sell USD/JPY at 77.66 SL 77.92 TP 77.16, exit sent at 9:50 GMT+1.
Total today +75, yesterday +71, as shown in details at http://www.zifx.com/performance.php.