USD/JPY In Even Narrower 30 Pip Range

On Thursday Dollar/Yen traded within narrow 30 pip range, not matching the negative Interbank sentiment at nearly -46%. The currency couple appreciated from 76.55 to 76.88 yesterday, closing the day at 76.68. This morning the Dollar is trading quietly against the Yen, at the lower side of yesterday's range for now. On the 1 hour chart small angle upward channel is emerging, while on the 3 hour chart quotes are still caught in narrow range. Break above yesterday's top and nearest resistance 76.88 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.55, and consistent break bellow it could strengthen the Yen further down towards next target 75.67. Today are Japan BoJ meeting announcement, and Leading and Coincident indicators composite index, at 3:30 and 5 GMT respectively. Quotes are moving in line with the 20 and just bellow the 50 EMA on the 1 hour chart, indicating short term neutral and medium term slim bearish pressure. The value of the RSI indicator is positive and calm, MACD is thinly negative and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving overall neutral signals. Technical resistance levels: 76.88 77.73 78.59 Technical support levels: 76.55 75.67 74.80

Trading range: 76.80 - 76.15 Trend: Downward Sell at 76.69 SL 76.99 TP 76.29

Already made +6 pips profit on USD/JPY today from the following sent to clients only signal: 5:26 GMT+1 Sell USD/JPY at 76.64 SL 76.90 TP 76.14, exit sent at 8:22 GMT+1. Total today +134, yesterday +108, as shown in details at http://www.zifx.com/performance.php.