USD/JPY Open 77.14 High 77.69 Low 76.81 Close 77.08

On Friday Dollar/Yen decreased with 65 pips, matching the negative Interbank sentiment at bellow -5%. The currency couple depreciated from 77.69 to 77.04 on Friday, closing the week at 77.08. This morning the Dollar weakened further against the Yen, descending down to 76.81. On the 1 hour chart new downward channel is emerging, while on the 3 hour chart wide range trading has formed. Break above Friday's top and nearest resistance 77.69 would encourage further recovery of the Dollar. Immediate support is today's bottom at 76.81, and consistent break bellow it could strengthen the Yen further down towards next target 76.00. Today was Japan Industrial output at 4:30 GMT. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 77.69 78.50 79.33
Technical support levels: 76.81 76.00 75.14

Trading range: 77.10 - 76.45
Trend: Downward
Sell at 76.97 SL 77.27 TP 76.57

Already made +31 pips profit on USD/JPY today from the following sent to clients only signal:
5:23 GMT Buy Sell USD/JPY at 77.12 SL 77.38 TP 76.62, exit sent at 9:26 GMT+1.
Total today +168, on Friday +106, as shown in details at http://www.zifx.com/performance.php.

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