USD/JPY Open 77.41 High 77.69 Low 76.83 Close 77.44
On Thursday Dollar/Yen increased insignificantly with 85 pips, not matching the negative Interbank sentiment at nearly -63%. The currency couple appreciated from 76.83 to 77.69 yesterday, closing the day at 77.44. This morning the Dollar is correcting against the Yen, with movements still within yesterday's range for now. On the 1 hour chart quotes broke up of the narrow trading range, while on the 3 hour chart the downward channel is fading away. Break above yesterday's top and nearest resistance 77.69 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.83, 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 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 inclining upwards, MACD is negative and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 77.69 78.57 79.42
Technical support levels: 76.83 76.00 75.09
Trading range: 76.80 - 77.45
Buy at 76.93 SL 76.63 TP 77.33
Already made +17 pips profit on USD/JPY today from the following signal:
7:39 GMT+1 Sell USD/JPY at 77.07 SL 77.33 TP 76.57, exit sent at 7:55 GMT+1.
Total today +96, yesterday +121, as shown in details at http://www.zifx.com/performance.php.