USD/JPY Open 76.70 High 76.98 Low 76.53 Close 76.72
On Tuesday Dollar/Yen decreased insignificantly with 40 pips, matching the negative Interbank sentiment at almost -50%. The currency couple depreciated from 76.98 to 76.56 yesterday, closing the day at 76.72. This morning the Dollar weakened slightly further against the Yen, dropping down to 76.53. On the 1 hour the trading range has widened, while on the 3 hour chart the downward channel has turned into quiet trading. Break above yesterday's top and nearest resistance 76.98 would encourage further recovery of the Dollar. Immediate support is today's bottom at 76.53, and consistent break bellow it could strengthen the Yen further down towards next target 75.72. Today was Japan Housing starts at 5 GMT. Quotes are moving just bellow the close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 76.98 77.88 78.70
Technical support levels: 76.53 75.72 74.89
Trading range: 76.75 - 76.10
Sell at 76.64 SL 76.94 TP 76.24
Already made +6 pips profit on USD/JPY today from the following sent to clients only signal:
5:29 GMT+1 Sell USD/JPY at 76.60 SL 76.86 TP 76.10, exit sent at 6:15 GMT+1.
Total today +114, yesterday +117, as shown in details at http://www.zifx.com/performance.php.