USD/JPY Open 77.42 High 77.81 Low 76.89 Close 77.43
On Thursday Dollar/Yen continued decreasing with 50 pips. The currency couple depreciated from 77.81 to 77.29 yesterday, matching the negative Interbank sentiment at nearly -10%, closing the day at 77.43. This morning the Dollar weakened further against the Yen, reaching 76.89. On the 1 hour chart sharp wedge has formed, while on the 3 hour chart wide range trading has formed. Break above yesterday's top and nearest resistance 77.81 would encourage further recovery of the Dollar. Immediate support is today's bottom at 76.89, and consistent break bellow it could strengthen the Yen further down towards next target 76.00. There are no major economic events for Japan today. Quotes are moving bellow the twisted 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 77.81 78.69 79.53
Technical support levels: 76.89 76.00 75.13
Trading range: 77.20 - 76.55
Sell at 77.07 SL 77.37 TP 76.67
Already made +13 pips profit on USD/JPY today from the following sent to clients only signal:
5:21 GMT Sell USD/JPY at 77.04 SL 77.30 TP 76.54, exit sent at 9:58 GMT+1.
Total today +135, yesterday +189, as shown in details at http://www.zifx.com/performance.php.