USD/JPY Open 76.75 High 76.93 Low 76.64 Close 76.79
On Tuesday Dollar/Yen continued trading within even narrower 30 pip range, not matching the negative Interbank sentiment at bellow -76%. The currency couple appreciated from 76.64 to 76.93 yesterday, closing the day at 76.79. This morning the Dollar is moving quietly against the Yen, and within yesterday's range for now. On the 1 hour chart quotes are testing the lower limit of the trading range, while on the 3 hour chart the downward channel is still attempting to renew. Break above yesterday's top and nearest resistance 76.93 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.64, and consistent break bellow it could strengthen the Yen further down towards next target 75.50. Today is Japan Trade balance at 23:50 GMT. Quotes are moving just bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 76.93 77.80 78.66
Technical support levels: 76.64 75.50 74.49
Trading range: 76.95 - 76.35
Sell at 76.85 SL 77.15 TP 76.45
Already made +16 pips profit on USD/JPY today from the following signal:
5:25 GMT+1 Sell USD/JPY at 76.72 SL 76.98 TP 76.22, exit sent at 8:05 GMT+1.
Total today +122, yesterday +122, as shown in details at http://www.zifx.com/performance.php.