USD/JPY Open 77.58 High 78.57 Low 76.98 Close 77.66
On Monday Dollar/Yen continued decreasing significantly with 115 pips, matching the negative Interbank sentiment at bellow -74%. The currency couple depreciated from 78.57 to 77.42 yesterday, closing the day at 77.66. This morning the Dollar descended further against the Yen, dropping down to 77.04. On the 1 hour chart range trading has formed, while on the 3 hour chart the downward channel is attempting to renew. Break above yesterday's top and nearest resistance 78.57 would encourage further recovery of the Dollar. Immediate support is today's bottom at 76.98, and consistent break bellow it could strengthen the Yen further down towards next target 76.26. Today are Japan Corporate goods price and Tertiary activity indexes, both 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 declining, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 78.57 79.40 80.29
Technical support levels: 76.98 76.26 75.40
Trading range: 77.25 - 76.60
Sell at 77.12 SL 77.42 TP 76.72
Already made +23 pips profit on USD/JPY today from the following signal:
6:46 GMT+1 Sell USD/JPY at 77.49 SL 77.75 TP 76.99, exit sent at 7:18 GMT+1.
Total today +97, yesterday +193, as shown in details at http://www.zifx.com/performance.php.