USD/JPY Open 76.73 High 77.48 Low 76.60 Close 76.64
On Friday Dollar/Yen continued decreasing with 90 pips. The currency couple depreciated from 77.48 to 76.60 on Friday, matching the negative Interbank sentiment at bellow -15%, closing the week at 76.64. This morning the Dollar weakened is trading quietly against the Yen, at the lower end of Friday's range for now. On the 1 hour chart sharp wedge has formed, while on the 3 hour chart wide range trading has formed. Break above Friday's top and nearest resistance 77.48 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 76.60, and consistent break bellow it could strengthen the Yen further down towards next target 75.77. Today are Japan Unemployment, Household spending, and Industrial output, at 23:30 and 23:50 GMT respectively. Quotes are moving in line with the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bearish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 77.48 78.34 79.20
Technical support levels: 76.60 75.77 74.90
Trading range: 76.85 - 76.25
Sell at 76.75 SL 77.05 TP 76.35
Already made +4 pips profit on USD/JPY today from the following sent to clients only signal:
5:20 GMT Sell USD/JPY at 76.67 SL 76.93 TP 76.17, exit sent at 8:26 GMT+1.
Total today +150, on Friday +135, as shown in details at http://www.zifx.com/performance.php.