USD/JPY Open 77.66 High 77.79 Low 77.12 Close 77.62
On Thursday Dollar/Yen increased with 65 pips, after the morning descent. The currency couple appreciated from 77.12 to 77.79 yesterday, matching the positive Interbank sentiment at under +15%, closing the day at 77.62. This morning the Dollar is trading quietly against the Yen, moving at the upper end of yesterday's range for now. On the 1 hour chart range trading is forming, while on the 3 hour chart trading is still within wider range. Break above yesterday's top and nearest resistance 77.79 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.12, and consistent break bellow it could strengthen the Yen further down towards next target 76.26. There are no major economic events for Japan today. Quotes are moving just above the crossed and close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is neutral and declining, MACD is neutral and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 77.79 79.63 80.50
Technical support levels: 77.12 76.26 75.43
Trading range: 77.90 - 77.25
Sell at 77.76 SL 78.06 TP 77.36
Already made +4 pips profit on USD/JPY today from the following sent to clients only signal:
5:23 GMT Sell USD/JPY at 77.61 SL 77.87 TP 77.11, exit sent at 6:10 GMT+1.
Total today +114, yesterday +75, as shown in details at http://www.zifx.com/performance.php.