USD/JPY Open 76.55 High 76.80 Low 76.45 Close 76.53
On Monday Dollar/Yen traded within narrow 35 pip range. The currency couple appreciated from 76.45 to 76.80 yesterday, not matching the negative Interbank sentiment at bellow -17%, closing the day at 76.53. 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 quotes returned to the wider trading range. Break above yesterday's top and nearest resistance 76.80 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.45, and consistent break bellow it could strengthen the Yen further down towards next target 75.54. Today are Japan Current account and Trade balance, both at 23:50 GMT. Quotes are moving above the close 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is thinly positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 76.80 77.66 78.50
Technical support levels: 76.45 75.54 74.68
Trading range: 76.85 - 76.25
Sell at 76.75 SL 77.05 TP 76.35
Already made +10 pips profit on USD/JPY today from the following sent to clients only signal:
5:18 GMT Sell USD/JPY at 76.72 SL 76.98 TP 76.22, exit sent at 7:44 GMT+1.
Total today +103, yesterday +99, as shown in details at http://www.zifx.com/performance.php.