USD/JPY Breaks Bellow 81, Next Target 80.5

By @ibtimes on

USD/JPY Open 80.68 High 81.86 Low 80.57 Close 80.66

On Tuesday Dollar/Yen decreased with 50 pips. The currency couple depreciated from 81.86 to 80.60 yesterday, matching the negative Interbank sentiment at bellow -44%, closing the day at 80.66. This morning the Dollar weakened slightly further against the Yen, reaching 80.57. On the 1 hour chart the small angle downward channel looks good, while on the 3 hour chart range trading has formed. Break above yesterday's top and nearest resistance 81.86 would encourage further recovery of the Dollar. Immediate support is today's bottom at 80.57, and consistent break bellow it could strengthen the Yen further down towards next target 79.70. Today are Japan Corporate goods price index and M2+CDs money supply, both at 23:50 GMT. 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 neutral and hesitant, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 81.86 82.70 83.58
Technical support levels: 80.57 79.70 78.86
Already made +19 pips profit on USD/JPY today from the following sent to clients only signal:
5:20 GMTGMT+1 Sell USD/JPY at 80.76 SL 81.02 TP 80.26, exit sent at 8:58 GMTGMT+1.
Today so far +147, yesterday +91, as shown in details at http://www.zifx.com/performance-past.php.

ZIFX.com

Join the Discussion