USD/JPY Open 83.82 High 84.18 Low 82.94 Close 83.66
On Wednesday Dollar/Yen continued increasing with 95 pips. The currency couple appreciated from 82.94 to 83.90 yesterday, not matching the negative Interbank sentiment at nearly -11%, closing the day at 83.66. This morning the Dollar ascended slightly further against the Yen, climbing up to 84.18, than commenced correcting. On the 1 hour chart the upward channel looks good, while on the 3 hour chart the upward channel is also intact. Break above today's top and nearest resistance 84.18 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 82.94, and consistent break bellow it could strengthen the Yen further down towards next target 82.00. Today were Japan Industrial output and BoJ monthly economic report, at 4:30 and 5 GMT respectively. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term bullish pressure. The value of the RSI indicator is negative and declining, MACD is positive and dropping, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 84.18 85.00 85.91
Technical support levels: 82.94 82.00 81.12
Already made +8 pips profit on USD/JPY today from the following sent to clients only signal:
5:17 GMT Buy USD/JPY at 84.03 SL 83.77 TP 84.53, exit sent at 5:37 GMT+1.
Total today +68, yesterday +112, as shown in details at http://www.zifx.com/performance-past.php.