USD/JPY Open 77.68 High 77.81 Low 77.51 Close 77.56
On Friday Dollar/Yen traded within narrow 30 pip range. The currency couple appreciated from 77.51 to 77.81 on Friday, not matching the negative Interbank sentiment at bellow -9%, closing the week at 77.56. This morning the Dollar is trading quietly against the Yen, moving within Friday's range for now. On the 1 hour chart new upward channel has formed, while on the 3 hour chart trading is within wide range. Break above Friday's top and nearest resistance 77.81 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 77.51, and consistent break bellow it could strengthen the Yen further down towards next target 76.69. Today are Japan Real GDP and Tertiary activity index, both at 23:50 GMT. Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and tranquil too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 77.81 78.69 79.54
Technical support levels: 77.51 76.68 75.80
Already made +16 pips profit on USD/JPY today from the following sent to clients only signal:
5:18 GMT Buy USD/JPY at 77.58 SL 77.32 TP 78.08, exit sent at 9:09 GMT+1.
Total today +106, on Friday +124, as shown in details at http://www.zifx.com/performance.php.