USD/JPY Open 77.46 High 77.86 Low 76.74 Close 77.54

On Friday Dollar/Yen decreased with almost 80 pips, matching the negative Interbank sentiment at under -53%. The currency couple depreciated from 77.86 to 77.09 on Friday, closing the week at 77.54. This morning the Dollar descended further against the Yen, reaching down to 76.74. 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 Friday's top and nearest resistance 77.86 would encourage further recovery of the Dollar. Immediate support is today's bottom at 76.74, and consistent break bellow it could strengthen the Yen further down towards next target 75.90. There are no major economic events for Japan today. Quotes are moving way bellow the close 20 and 50 EMA on the 1 hour chart, indicating strong bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is negative and dropping, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 77.86 78.70 79.57
Technical support levels: 76.74 75.90 75.00

Trading range: 77.15 - 76.50
Trend: Downward
Sell at 77.04 SL 77.34 TP 76.64

Already made +50 pips profit on USD/JPY today from the following sent to clients only signal:
5:25 GMT+1 Sell USD/JPY at 77.49 SL 77.75 TP 76.99, TP reached at 6:18 GMT+1.
Total today +199, on Friday +137, as shown in details at http://www.zifx.com/performance.php.

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