USD/JPY Open 76.82 High 77.10 Low 76.51 Close 76.64

On Friday Dollar/Yen traded within 50 pip range, not exactly matching the negative Interbank sentiment at almost -77%. The currency couple depreciated from 77.02 to 76.51 on Friday, closing the week at 76.64. This morning the Dollar ascended the Yen, climbing up to 77.10. On the 1 hour chart quotes are testing the lower limit of the trading range, while on the 3 hour chart the downward channel is still attempting to renew. Break above today's top and nearest resistance 77.10 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 76.51, and consistent break bellow it could strengthen the Yen further down towards next target 75.37. There are no major economic events for Japan today. Quotes are moving just above the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is thinly positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 77.10 78.00 78.88
Technical support levels: 76.51 75.37 74.25

Trading range: 77.00 - 76.35
Trend: Downward
Sell at 76.88 SL 77.18 TP 76.48

Already made +3 pips profit on USD/JPY today from the following signal:
5:29 GMT+1 Sell USD/JPY at 76.82 SL 77.08 TP 76.32, exit sent at 5:38 GMT+1.
Total today +112, on Friday +108, as shown in details at http://www.zifx.com/performance.php.

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