USD/JPY Open 80.73 High 81.18 Low 80.30 Close 80.75
On Wednesday Dollar/Yen commenced decreasing with 60 pips, not matching the positive Interbank sentiment at +15%. The currency couple depreciated from 81.18 to 80.55 yesterday, closing the day at 80.75. This morning the Dollar lost further ground against the Yen, losing all earlier week's gains and dropping down to 80.30. On the 1 hour chart range trading is emerging, while on the 3 hour chart quotes are moving within wide trading range. Break above yesterday's top and nearest resistance 81.18 would encourage further recovery of the Dollar. Immediate support is today's bottom at 80.30, and consistent break bellow it could strengthen the Yen further down towards next target 79.44. Today are Japan Housing starts, Construction orders, Nationwide and Tokyo-area CPI, Unemployment, Household spending and BoJ Tankan survey, at 5, 23:30 and 23:50 GMT respectively. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 81.18 82.10 83.00
Technical support levels: 80.30 79.44 78.61
Trading range: 80.55 - 79.90
Sell at 80.42 SL 80.72 TP 80.02
Already made +12 pips profit on USD/JPY today from the following signal:
5:30 GMT+1 Sell USD/JPY at 80.42 SL 80.68 TP 79.92, exit sent at 6:14 GMT+1.
Total today +118, yesterday +105, as shown in details at http://www.zifx.com/performance.php.