USD/JPY Open 77.96 High 78.04 Low 77.63 Close 77.98

On Tuesday Dollar/Yen continued trading within even narrower 40 pip range. The currency couple depreciated from 77.98 to 77.63 yesterday, matching the negative Interbank sentiment at under -9%, closing the day at 77.98. This morning the Dollar strengthened slightly further against the Yen, reaching 78.04. On the 1 hour chart range trading has formed, while on the 3 hour chart trading is still within wider range. Break above today's top and nearest resistance 78.04 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.63, and consistent break bellow it could strengthen the Yen further down towards next target 76.77. Today is Japan Industrial output and BoJ Tankan survey, at 04:30 and 23:50 GMT respectively. Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is thinly negative and calm, MACD is positive and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 78.04 78.88 79.70
Technical support levels: 77.63 76.77 75.91

Trading range: 77.80 - 78.45
Trend: Upward
Buy at 77.92 SL 77.62 TP 78.32

Already made +4 pips profit on USD/JPY today from the following sent to clients only signal:
5:21 GMT Buy USD/JPY at 77.95 SL 77.69 TP 78.45, exit sent at 8:04 GMT+1.
Total today +95, yesterday +87, as shown in details at http://www.zifx.com/performance.php.

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