USD/JPY Open 78.01 High 78.16 Low 77.66 Close 78.03
On Monday Dollar/Yen increased with 50 pips. The currency couple appreciated from 77.66 to 78.16 yesterday, not matching the negative Interbank sentiment at almost -19%, closing the day at 78.03. This morning the Dollar is showing weakness against the Yen, but movements are still within yesterday's range for now. On the 1 hour chart quotes are moving at the upper end of the trading range, while on the 3 hour chart trading is still within wider range. Break above yesterday's top and nearest resistance 78.16 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.66, and consistent break bellow it could strengthen the Yen further down towards next target 76.74. Today are Japan All industry index, Leading and Coincident indicators composite index, and Trade balance, at 4:30, 5 and 23:50 GMT respectively. 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 negative and descending, MACD is neutral and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving over light short signals.
Technical resistance levels: 78.16 79.00 80.89
Technical support levels: 77.66 76.74 76.00
Trading range: 78.05 - 77.45
Sell at 77.95 SL 78.25 TP 77.55
Already made +5 pips profit on USD/JPY today from the following sent to clients only signal:
5:21 GMT Sell USD/JPY at 77.98 SL 78.24 TP 77.48, exit sent at 6:51 GMT+1.
Total today +152, yesterday +49, as shown in details at http://www.zifx.com/performance.php.