USD/JPY Open 76.92 High 77.23 Low 76.67 Close 76.99

On Thursday Dollar/Yen continued correcting downwards with almost 800 pips, not matching the positive Interbank sentiment at almost +13%. The currency couple depreciated from 77.23 to 76.67 yesterday, closing the day at 76.99. This morning the Dollar is trading quietly and with little push ups against the Yen, but moving still within yesterday's range for now. On the 1 hour chart the range trading has formed, while on the 3 hour chart quotes are still caught in narrow range. Break above yesterday's top and nearest resistance 77.23 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.67, and consistent break bellow it could strengthen the Yen further down towards next target 75.80. There are no major economic events for Japan today. Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is neutral and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over light long signals.
Technical resistance levels: 77.23 78.10 79.00
Technical support levels: 76.67 75.80 70.00

Trading range: 76.85 - 76.50
Trend: Upward
Buy at 76.96 SL 76.66 TP 77.36

Already made +2 pips profit on USD/JPY today from the following sent to clients only signal:
5:25 GMT+1 Sell USD/JPY at 76.90 SL 77.16 TP 76.40, exit sent at 5:30 GMT+1.
Total today +119, yesterday +127, as shown in details at http://www.zifx.com/performance.php.

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