USD/JPY Open 78.06 High 78.28 Low 77.43 Close 77.96
On Monday Dollar/Yen continued increasing with 85 pips. The currency couple appreciated from 77.43 to 78.24 yesterday, not matching the negative Interbank sentiment at under -4%, closing the day at 77.96. This morning the Dollar ascended further against the Yen, climbing to 78.28. On the 1 hour chart new upward channel has emerged, while on the 3 hour chart trading is still within wide range. Break above today's top and nearest resistance 78.28 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.43, and consistent break bellow it could strengthen the Yen further down towards next target 76.31. Today is Japan Industrial output at 23:50 GMT. 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 declining, MACD is positive and dropping, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 78.28 79.16 80.00
Technical support levels: 77.43 76.31 75.50
Trading range: 77.90 - 77.25
Sell at 77.76 SL 78.06 TP 77.36
Already made +29 pips profit on USD/JPY today from the following sent to clients only signal:
5:23 GMT Sell USD/JPY at 78.05 SL 78.31 TP 77.55, exit sent at 8:53 GMT+1.
Total today +150, yesterday +101, as shown in details at http://www.zifx.com/performance.php.