USD/JPY Open 76.13 High 76.49 Low 75.98 Close 76.08
On Monday Dollar/Yen decreased with 50 pips, not matching the positive Interbank sentiment at almost +8%. The currency couple depreciated from 76.49 to 75.98 yesterday, closing the day at 76.08. This morning the Dollar is trading hesitantly against the Yen, but 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 76.49 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 75.98, and consistent break bellow it could strengthen the Yen further down towards next target 74.88. There are no major economic events for Japan today. Quotes are moving above the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term bullish and medium term neutral pressure. The value of the RSI indicator is positive and calm, MACD is negative and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over neutral to light long signals.
Technical resistance levels: 76.49 77.33 78.19
Technical support levels: 75.98 74.88 74.00
Trading range: 76.00 - 76.65
Buy at 76.11 SL 75.81 TP 76.51
Already made +7 pips profit on USD/JPY today from the following sent to clients only signal:
5:25 GMT+1 Sell USD/JPY at 76.10 SL 76.36 TP 75.60, exit sent at 6:57 GMT+1.
Total today +60, yesterday +151, as shown in details at http://www.zifx.com/performance.php.