USD/JPY Open 80.58 High 81.03 Low 80.31 Close 80.94 Now 80.38

On Thursday Dollar/Yen decreasing insignificantly with 55 pips, not matching the positive Interbank sentiment at nearly +4%. The currency couple depreciated from 81.03 to 80.47 yesterday, closing the day at 80.61. This morning the Dollar weakened against the Yen, dropping down to 80.31. On the 1 hour chart new upward channel is emerging, while on the 3 hour chart quotes are moving within wide trading range. Break above yesterday's top and nearest resistance 81.03 would encourage further recovery of the Dollar. Immediate support is today's bottom at 80.31, and consistent break bellow it could strengthen the Yen further down towards next target 79.60. There are no major economic events for Japan today. Quotes are moving bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 81.03 81.90 82.77
Technical support levels: 80.31 79.44 78.55

Trading range: 80.55 - 79.95
Trend: Downward
Sell at 80.45 SL 80.75 TP 80.05

Already made +25 pips profit on USD/JPY today from the following signal:
5:20 GMT+1 Sell USD/JPY at 80.63 SL 80.89 TP 80.13, exit sent at 8:37 GMT+1.
Total today +132, yesterday +140, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com