USD/JPY With Light Renewal Of Downtrend

On Wednesday Dollar/Yen renewed decreasing with 50 pips, matching the negative Interbank sentiment at bellow -55%. The currency couple depreciated from 77.07 to 76.59 yesterday, closing the day at 76.61. This morning the Dollar is trading hesitantly against the Yen, and at the lower end of yesterday's range for now. On the 1 hour chart trading is still caught in a range, while on the 3 hour chart quotes are moving in narrow range. Break above yesterday's top and nearest resistance 77.07 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.59, and consistent break bellow it could strengthen the Yen further down towards next target 75.72. There are no major economic events for Japan today. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and declining, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals. Technical resistance levels: 77.07 77.95 78.80 Technical support levels: 76.59 75.72 74.90

Trading range: 76.80 - 76.20 Trend: Downward Sell at 76.70 SL 77.00 TP 76.30

Already made +2 pips profit on USD/JPY today from the following sent to clients only signal: 5:27 GMT+1 Sell USD/JPY at 76.66 SL 76.92 TP 76.16, exit sent at 5:28 GMT+1. Total today +115, yesterday +144, as shown in details at http://www.zifx.com/performance.php.