USD/JPY Open 77.05 High 77.89 Low 76.45 Close 76.93

On Tuesday Dollar/Yen continued decreasing significantly with 120 pips, matching the negative Interbank sentiment at bellow -74%. The currency couple depreciated from 77.89 to 76.69 yesterday, closing the day at 76.93. This morning the Dollar descended further against the Yen, dropping down to 76.45. On the 1 hour chart trading is at the lower range end, while on the 3 hour chart the downward channel is attempting to renew. Break above yesterday's top and nearest resistance 77.89 would encourage further recovery of the Dollar. Immediate support is today's bottom at 76.45, and consistent break bellow it could strengthen the Yen further down towards next target 75.80. Today are Japan Machinery orders at 23:50 GMT. Quotes are moving just bellow the close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.

Technical resistance levels: 77.89 78.75 79.66

Technical support levels: 76.45 75.80 74.93

Trading range: 76.80 - 76.20

Trend: Downward

Sell at 76.70 SL 77.00 TP 76.30

Already made +28 pips profit on USD/JPY today from the following signal:

5:31 GMT+1 Sell USD/JPY at 76.95 SL 77.21 TP 76.45, exit sent at 7:30 GMT+1.

Total today +116, yesterday +97, as shown in details at