USD/JPY Open 78.40 High 78.66 Low 77.48 Close 78.42
On Tuesday Dollar/Yen increased with over 100 pips. The currency couple appreciated from 77.48 to 77.54 yesterday, not matching the negative Interbank sentiment at nearly -17%, closing the day at 78.42. This morning the Dollar strengthened further against the Yen, climbing up to 78.66. On the 1 hour chart new upward channel has formed, while on the 3 hour chart quotes broke up of the wide trading range. Break above today's top and nearest resistance 78.66 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.48, and consistent break bellow it could strengthen the Yen further down towards next target 76.60. Today was Japan BoJ monthly economic report at 5 GMT. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and tranquil too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 78.66 79.52 80.38
Technical support levels: 77.48 76.60 75.75
Already made +5 pips profit on USD/JPY today from the following sent to clients only signal:
5:18 GMT Buy USD/JPY at 78.50 SL 78.24 TP 79.00, exit sent at 9:33 GMT+1.
Total today +83, yesterday +92, as shown in details at http://www.zifx.com/performance.php.