USD/JPY Open 76.86 High 77.24 Low 76.70 Close 76.91
On Thursday Dollar/Yen increased with 55 pips, not matching the negative Interbank sentiment at under -49%. The currency couple appreciated from 76.70 to 77.24 yesterday, closing the day at 76.91. This morning the Dollar is trading quietly against the Yen, and within yesterday's range for now. On the 1 hour the trading is still caught in a range, while on the 3 hour chart the downward channel has turned into quiet trading. Break above yesterday's top and nearest resistance 77.24 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.70, and consistent break bellow it could strengthen the Yen further down towards next target 75.83. There are no major economic events for Japan today. Quotes are moving just bellow the close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and calm, MACD is neutral and tranquil too, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall neutral to light short signals.
Technical resistance levels: 77.24 78.15 79.00
Technical support levels: 76.70 75.83 75.00
Trading range: 76.95 - 76.30
Sell at 76.81 SL 77.11 TP 76.41
Already made +9 pips profit on USD/JPY today from the following sent to clients only signal:
5:27 GMT+1 Sell USD/JPY at 76.87 SL 77.13 TP 76.37, exit sent at 7:52 GMT+1.
Total today +124, yesterday +116, as shown in details at http://www.zifx.com/performance.php.