USD/JPY Open 77.93 High 78.17 Low 77.57 Close 77.96
On Wednesday Dollar/Yen increasing with 60 pips, matching the positive Interbank sentiment at nearly +6%. The currency couple appreciated from 77.57 to 78.17 yesterday, closing the day at 77.96. This morning the Dollar is correcting downwards against the Yen, with movements within yesterday's range for now. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart the downward channel looks good. Break above yesterday's top and nearest resistance 78.17 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.57, and consistent break bellow it could strengthen the Yen further down towards next target 76.69. Today are Japan Nationwide and Tokyo-area CPI, Unemployment, Household spending, and Industrial output, at 23:30 and 23:50 GMT respectively. Quotes are moving bellow the even 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 78.17 79.00 79.89
Technical support levels: 77.57 76.69 75.80
Trading range: 77.85 - 77.20
Sell at 77.72 SL 78.02 TP 77.32
Already made +22 pips profit on USD/JPY today from the following signal:
5:30 GMT+1 Sell USD/JPY at 77.86 SL 78.12 TP 77.36, exit sent at 8:44 GMT+1.
Total today +92, yesterday +103, as shown in details at http://www.zifx.com/performance.php.