USD/JPY Open 76.10 High 76.30 Low 75.73 Close 76.07
On Tuesday Dollar/Yen decreased with 55 pips, matching the negative Interbank sentiment at almost -14%. The currency couple depreciated from 76.30 to 75.73 yesterday, closing the day at 76.07. This morning the Dollar is trading quietly against the Yen, with movements within yesterday's range for now. On the 1 hour chart new downward channel is emerging, while on the 3 hour chart quotes broke down of the narrow trading range. Break above yesterday's top and nearest resistance 76.30 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 75.73, and consistent break bellow it could strengthen the Yen further down towards next target 74.88. Today is Japan Retail sales at 23:50 GMT. Quotes are moving just bellow the close 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 negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 76.30 77.17 78.00
Technical support levels: 75.73 74.88 74.00
Trading range: 76.05 - 75.40
Sell at 75.93 SL 76.23 TP 75.53
Already made +14 pips profit on USD/JPY today from the following sent to clients only signal:
5:24 GMT+1 Sell USD/JPY at 76.02 SL 76.28 TP 75.52, exit sent at 9:36 GMT+1.
Total today +107, yesterday +60, as shown in details at http://www.zifx.com/performance.php.