USD/JPY Open 76.74 High 77.24 Low 76.38 Close 76.64

On Wednesday Dollar/Yen traded down and up within 45 pip range, not matching the negative Interbank sentiment at almost -50%. The currency couple appreciated from 76.38 to 76.84 yesterday, closing the day at 76.64. This morning the Dollar strengthened against the Yen as BoJ intervened, climbing up to 77.24, but be aware of possible downward adjustment. On the 1 hour the trading is still caught in a range, while on the 3 hour chart the downward channel has turned into quiet trading. Break above today's top and nearest resistance 77.24 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.38, and consistent break bellow it could strengthen the Yen further down towards next target 75.50. There are no major economic events for Japan today. Quotes are just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light long signals.

Technical resistance levels: 77.24 78.15 79.00

Technical support levels: 76.38 75.50 74.66

Trading range: 76.90 - 77.50

Trend: Upward

Buy at 77.00 SL 76.70 TP 77.40

Already made +9 pips profit on USD/JPY today from the following sent to clients only signal:

5:32 GMT+1 Sell USD/JPY at 76.85 SL 77.11 TP 76.35, exit sent at 6:53 GMT+1.

Total today +116, yesterday +114, as shown in details at