USD/JPY Open 78.54 High 79.03 Low 78.20 Close 78.29
On Thursday Dollar/Yen decreased with 80 pips, not matching the positive Interbank sentiment at almost +1%. The currency couple depreciated from 79.03 to 78.20 yesterday, closing the day at 78.29. This morning the Dollar is trading quietly against the Yen, and within yesterday's range for now. On the 1 hour chart the downward channel has resumed, while on the 3 hour chart the new downward channel is attempting to renew. Break above yesterday's top and nearest resistance 79.03 would encourage further recovery of the Dollar. Immediate support is today's bottom at 78.20, and consistent break bellow it could strengthen the Yen further down towards next target 77.32. There are no major economic events for Japan today. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI is positive and calm, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 79.03 79.90 80.74
Technical support levels: 78.20 77.32 76.50
Trading range: 78.65 - 78.00
Sell at 78.54 SL 78.84 TP 78.14
Already made +6 pips profit on USD/JPY today from the following signal:
5:30 GMT+1 Sell USD/JPY at 78.62 SL 78.88 TP 78.12, exit sent at 7:51 GMT+1.
Total today +110, yesterday +139, as shown in details at http://www.zifx.com/performance.php.