USD/JPY Open 76.52 High 76.89 Low 76.14 Close 76.54
On Friday Dollar/Yen traded within 75 pip range. The currency couple appreciated from 76.14 to 76.89 on Friday, not matching the negative Interbank sentiment at nearly -55%, closing the week at 76.54. This morning the Dollar is trading with a slight decrease against the Yen, with movements within Friday's range for now. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart quotes are still moving quietly in narrow range. Break above Friday's top and nearest resistance 76.89 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 76.14, and consistent break bellow it could strengthen the Yen further down towards next target 75.25. There are no major economic events for Japan today. Quotes are moving just bellow the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term bearish and medium term neutral pressure. The value of the RSI indicator is thinly negative and declining, MACD is positive and calm, while CCI is in line with the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 76.89 77.77 78.60
Technical support levels: 76.14 75.25 74.39
Trading range: 76.60 - 76.00
Sell at 76.50 SL 76.80 TP 76.10
Already made +21 pips profit on USD/JPY today from the following sent to clients only signal:
5:26 GMT+1 Sell USD/JPY at 76.43 SL 76.69 TP 75.93, exit sent at 6:48 GMT+1.
Total today +119, on Friday +126, as shown in details at http://www.zifx.com/performance.php.