USD/JPY Open 76.97 High 77.34 Low 76.83 Close 76.96
On Tuesday Dollar/Yen continued trading within narrow 50 pip range. The currency couple depreciated from 77.34 to 76.83 yesterday, matching the negative Interbank sentiment at bellow -6%, closing the day at 76.96. This morning the Dollar is puching lightly up again against the Yen, but movements are limited within yesterday's range for now. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart wide range trading has formed. Break above yesterday's top and nearest resistance 77.34 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.83, and consistent break bellow it could strengthen the Yen further down towards next target 76.00. Today is Japan Labour Thanksgiving Day. Quotes are moving above the close 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and climbing, MACD is positive and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over long signals.
Technical resistance levels: 77.34 78.19 79.00
Technical support levels: 76.83 76.00 75.14
Trading range: 77.05 - 77.70
Buy at 77.16 SL 76.86 TP 77.56
Already made +7 pips profit on USD/JPY today from the following sent to clients only signal:
5:23 GMT Sell USD/JPY at 77.02 SL 77.28 TP 76.52, exit sent at 7:16 GMT+1.
Total today +115, yesterday +25, as shown in details at http://www.zifx.com/performance.php.