USD/JPY Open 78.18 High 78.22 Low 77.99 Close 78.16

On Thursday Dollar/Yen increased insignificantly with 20 pips. The currency couple appreciated from 77.99 to 78.22 yesterday, matching the positive Interbank sentiment at over +9%, closing the day at 78.16. This morning the Dollar is trading quietly against the Yen, with movements within yesterday's range for now. On the 1 hour chart quotes are testing the upper limit of the trading range, while on the 3 hour chart trading is still within wider range. Break above yesterday's top and nearest resistance 78.22 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.99, and consistent break bellow it could strengthen the Yen further down towards next target 77.11. Today is the Birthday of the Japanese Emperor. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is neutral and declining, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over neutral to light short signals. Happy Christmas holidays!
Technical resistance levels: 78.22 79.00 79.87
Technical support levels: 77.99 77.11 76.26

Trading range: 78.20 - 77.55
Trend: Downward
Sell at 78.07 SL 78.37 TP 77.67

Already made +7 pips profit on USD/JPY today from the following sent to clients only signal:
5:22 GMT Sell USD/JPY at 78.11 SL 78.37 TP 77.61, exit sent at 6:39 GMT+1.
Total today +84, yesterday +164, as shown in details at http://www.zifx.com/performance.php.

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