USD/JPY Open 77.93 High 78.04 Low 77.56 Close 77.91
On Wednesday Dollar/Yen increased with 50 pips after the morning descent. The currency couple appreciated from 77.56 to 78.04 yesterday, matching the positive Interbank sentiment at above +6%, closing the day at 77.91. This morning the Dollar is moving down and up against the Yen, with movements, however, still within yesterday's range for now. On the 1 hour chart quotes are back into the range trading, while on the 3 hour chart trading is still within wider range. Break above yesterday's top and nearest resistance 78.04 would encourage further recovery of the Dollar. Immediate support is today's bottom at 77.56, and consistent break bellow it could strengthen the Yen further down towards next target 76.72. There are no major economic events for Japan today. Quotes are moving in line with the 20 and above the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bullish pressure. The value of the RSI indicator is negative and rising, MACD is negative and inclining upwards too, while CCI is in line with the 100 line on the 1 hour chart, giving over neutral signals.
Technical resistance levels: 78.04 78.89 79.71
Technical support levels: 77.56 76.72 75.90
Trading range: 77.65 - 78.30
Buy at 77.79 SL 77.49 TP 78.19
Already made +8 pips profit on USD/JPY today from the following sent to clients only signal:
5:20 GMT Sell USD/JPY at 77.76 SL 78.02 TP 77.26, exit sent at 7:41 GMT+1.
Total today +83, yesterday +45, as shown in details at http://www.zifx.com/performance.php.