USD/JPY Open 83.47 High 84.17 Low 83.18 Close 83.53
On Thursday Dollar/Yen corrected deeply with 100 pips. The currency couple depreciated from 82.94 to 83.90 yesterday, matching the negative Interbank sentiment at nearly -11%, closing the day at 83.53. This morning the Dollar is trading quietly against the Yen, moving in the middle of yesterday's range for now. On the 1 hour chart the upward channel still looks good, while on the 3 hour chart the upward channel is also intact. Break above yesterday's top and nearest resistance 84.17 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 83.18, and consistent break bellow it could strengthen the Yen further down towards next target 82.30. Today were Japan Leading and Coincident indicators composite indexes, both at 5 GMT. Quotes are moving just above the crossed and close 20 and bellow the 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and declining, MACD is neutral and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral to light long signals.
Technical resistance levels: 84.17 85.00 85.91
Technical support levels: 83.18 82.30 81.47
Already made +5 pips profit on USD/JPY today from the following sent to clients only signal:
5:18 GMT Buy USD/JPY at 83.54 SL 83.28 TP 84.04, exit sent at 7:07 GMT+1.
Total today +89, yesterday +68, as shown in details at http://www.zifx.com/performance-past.php.