USD/JPY Open 78.90 High 79.57 Low 78.46 Close 78.84
On Wednesday Dollar/Yen continued decreasing with 90 pips, not matching the positive Interbank sentiment at nearly +5%. The currency couple depreciated from 79.57 to 78.64 yesterday, closing the day at 78.84. This morning the Dollar weakened further against the Yen, descending down to 78.46, than jumped to a session high. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart new downward channel is emerging. Break above yesterday's top and nearest resistance 79.57 would encourage further recovery of the Dollar. Immediate support is today's bottom at 78.46, and consistent break bellow it could strengthen the Yen further down towards next target 77.38. Today is Japan BoJ meeting minutes at 23:50 GMT. Quotes are moving above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and inclining upwards, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 79.57 80.46 81.32
Technical support levels: 78.46 77.59 76.70
Trading range: 79.20 - 78.55
Sell at 79.08 SL 79.38 TP 78.68
Already made +7 pips profit on USD/JPY today from the following signal:
5:29 GMT+1 Sell USD/JPY at 78.69 SL 78.95 TP 78.19, exit sent at 6:19 GMT+1.
Total today +129, yesterday +115, as shown in details at http://www.zifx.com/performance.php.