USD/JPY Open 80.40 High 81.00 Low 80.29 Close 80.37
On Monday Dollar/Yen decreased with 70 pips. The currency couple depreciated from 81.00 to 80.29 yesterday, matching the negative Interbank sentiment at nearly -40%, closing the day at 80.37. This morning the Dollar corrected against the Yen, and is currently moving in the middle of yesterday's range for now. On the 1 hour chart the small angle downward channel looks good, while on the 3 hour chart range trading is forming. Break above yesterday's top and nearest resistance 81.00 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 80.29, and consistent break bellow it could strengthen the Yen further down towards next target 79.41. Today was Japan Industrial output at 4:30 GMT. Quotes are moving above the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term bullish and medium term neutral pressure. The value of the RSI indicator is positive and calm, MACD is negative and inclining upwards, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 81.00 81.88 82.72
Technical support levels: 80.29 79.41 78.55
Already made +7 pips profit on USD/JPY today from the following sent to clients only signal:
5:20 GMTGMT+1 Sell USD/JPY at 80.43 SL 80.69 TP 79.93, exit sent at 7:07 GMTGMT+1.
Today so far +69, yesterday +98, as shown in details at http://www.zifx.com/performance-past.php.