USD/JPY Open 76.54 High 76.98 Low 76.11 Close 76.44
On Wednesday Dollar/Yen increased insignificantly with 60 pips, not matching the negative Interbank sentiment at almost -60%. The currency couple appreciated from 76.11 to 76.74 yesterday, closing the day at 76.44. This morning the Dollar ascended further against the Yen, climbing up to 76.98. On the 1 hour chart quotes are testing the upper limit of the new downward channel, while on the 3 hour chart quotes are still moving quietly in narrow range. Break above today's top and nearest resistance 76.98 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.11, and consistent break bellow it could strengthen the Yen further down towards next target 75.25. There are no major economic events for Japan today. Quotes are moving just bellow the crossed 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 positive and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 76.98 77.83 78.64
Technical support levels: 76.11 75.25 74.39
Trading range: 76.55 - 75.90
Sell at 76.44 SL 76.74 TP 76.04
Already made +50 pips profit on USD/JPY today from the following sent to clients only signal:
5:26 GMT+1 Sell USD/JPY at 76.76 SL 77.02 TP 76.26, TP reached at 9:13 GMT+1.
Total today +193, yesterday +211, as shown in details at http://www.zifx.com/performance.php.