USD/JPY Open 76.84 High 77.10 Low 76.58 Close 76.81
On Monday Dollar/Yen continued trading within 50 pip range, not exactly matching the negative Interbank sentiment at almost -77%. The currency couple depreciated from 77.10 to 76.58 yesterday, closing the day at 76.81. This morning the Dollar is moving quietly against the Yen, within yesterday's range for now. On the 1 hour chart quotes are testing the lower limit of the trading range, while on the 3 hour chart the downward channel is still attempting to renew. Break above yesterday's top and nearest resistance 77.10 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.58, and consistent break bellow it could strengthen the Yen further down towards next target 75.70. There are no major economic events for Japan today. Quotes are moving in line with the even 20 and 50 EMA on the 1 hour chart, indicating neutral market. The value of the RSI indicator is neutral and calm, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall neutral to light short signals.
Technical resistance levels: 77.10 78.00 78.88
Technical support levels: 76.58 75.70 74.84
Trading range: 76.95 - 76.35
Sell at 76.85 SL 77.15 TP 76.45
Already made +9 pips profit on USD/JPY today from the following signal:
5:29 GMT+1 Sell USD/JPY at 76.84 SL 77.10 TP 76.34, exit sent at 7:41 GMT+1.
Total today +122, yesterday +112, as shown in details at http://www.zifx.com/performance.php.