USD/JPY Open 76.71 High 76.83 Low 76.60 Close 76.70
On Wednesday Dollar/Yen traded within narrow 20 pip range. The currency couple appreciated from 76.60 to 76.83 yesterday, matching the negative Interbank sentiment at bellow -12%, closing the day at 76.70. This morning the Dollar is trading quietly against the Yen, bouncing down from yesterday's ceiling. On the 1 hour chart new downward channel has formed, while on the 3 hour chart quotes broke down of the wide trading range. Break above yesterday's top and nearest resistance 76.83 would encourage further recovery of the Dollar. Immediate support is today's bottom at 76.60, and consistent break bellow it could strengthen the Yen further down towards next target 75.80. There are no major economic events for Japan today. Quotes are moving just above the crossed and almost even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is neutral and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 76.83 77.67 78.50
Technical support levels: 76.60 75.80 74.00
Trading range: 76.65 - 77.30
Buy at 76.79 SL 76.49 TP 77.19
Already made +2 pips profit on USD/JPY today from the following sent to clients only signal:
5:19 GMT Sell USD/JPY at 76.73 SL 76.99 TP 76.23, exit sent at 6:05 GMT+1.
Total today +177, yesterday +93, as shown in details at http://www.zifx.com/performance.php.