USD/JPY Open 80.28 High 80.40 Low 79.77 Close 80.26
On Wednesday Dollar/Yen continued increasing with 60 pips. The currency couple appreciated from 79.77 to 80.40 yesterday, not matching the very negative Interbank sentiment at bellow -62%, closing the day at 80.26. This morning the Dollar is slightly corrective against the Yen, with movements within yesterday's range for now. On the 1 hour chart the upward channel looks good, while on the 3 hour the new upward channel is intact. Break above yesterday's top and nearest resistance 80.40 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 79.77, and consistent break bellow it could strengthen the Yen further down towards next target 78.83. There are no major economic events for Japan today. Quotes are moving bellow the 20 and just above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term slim bullish pressure. The value of the RSI indicator is negative and declining, MACD is positive and descending, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short long signals.
Technical resistance levels: 80.40 81.28 82.10
Technical support levels: 79.77 78.83 78.00
Already made +8 pips profit on USD/JPY today from the following sent to clients only signal:
5:18 GMT Buy USD/JPY at 80.18 SL 79.92 TP 80.68, exit sent at 6:23 GMT+1.
Total today +124, yesterday +108, as shown in details at http://www.zifx.com/performance-past.php.