USD/JPY Open 77.51 High 78.19 Low 77.35 Close 77.56
On Monday Dollar/Yen traded within narrow 40 pip range. The currency couple depreciated from 77.79 to 77.35 yesterday, matching the negative Interbank sentiment at nearly -2%, closing the day at 77.56. This morning the Dollar strengthened against the Yen, ascending to 78.19. On the 1 hour chart new upward channel has formed, while on the 3 hour chart trading is within wide range. Break above today's top and nearest resistance 77.99 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.35, and consistent break bellow it could strengthen the Yen further down towards next target 76.50. Today were Japan BoJ meeting announcement and Industrial output, at 3:30 and 4:30 GMT respectively. Quotes are moving above the twisted 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is neutral and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 78.19 79.00 79.88
Technical support levels: 77.35 76.50 75.62
Already made +35 pips profit on USD/JPY today from the following sent to clients only signal:
5:20 GMT Buy USD/JPY at 77.84 SL 77.58 TP 78.34, exit sent at 9:41 GMT+1.
Total today +92, yesterday +106, as shown in details at http://www.zifx.com/performance.php.