USD/JPY Open 76.87 High 77.08 Low 76.76 Close 76.81
On Monday Dollar/Yen decreased insignificantly with 30 pips. The currency couple depreciated from 77.08 to 76.76 yesterday, not matching the positive Interbank sentiment at over +7%, closing the day at 76.81. This morning the Dollar is trading quietly against the Yen, at the lower end of yesterday's range for now. On the 1 hour chart the downward channel is on hold, while on the 3 hour chart quotes are holding within the wide trading range. Break above yesterday's top and nearest resistance 77.08 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.76, and consistent break bellow it could strengthen the Yen further down towards next target 75.90. There are no major economic events for Japan today. Quotes are moving just bellow the crossed 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and calm, MACD is thinly negative and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 77.08 78.00 78.84
Technical support levels: 76.76 75.90 75.00
Trading range: 76.95 - 76.35
Sell at 76.85 SL 77.15 TP 76.45
Already made +2 pips profit on USD/JPY today from the following sent to clients only signal:
5:23 GMT Sell USD/JPY at 76.79 SL 77.05 TP 76.29, exit sent at 5:34 GMT+1.
Total today +79, yesterday +54, as shown in details at http://www.zifx.com/performance.php.