USD/JPY Open 77.05 High 77.22 Low 76.43 Close 76.95
On Wednesday Dollar/Yen increased insignificantly with 60 pips, not matching the negative Interbank sentiment at bellow -64%. The currency couple depreciated from 76.43 to 77.09 yesterday, closing the day at 76.95. This morning the Dollar rose further against the Yen, climbing up to 77.22. On the 1 hour chart quotes are testing the upper limit of the narrow trading range, while on the 3 hour chart quotes are still at the lower limit of the downward channel. Break above today's top and nearest resistance 77.22 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.43, and consistent break bellow it could strengthen the Yen further down towards next target 75.60. Today are Japan Nationwide and Tokyo-area CPI, both at 23:30 GMT. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is thinly positive and tranquil, MACD is very positive and calm too, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 77.22 78.10 79.00
Technical support levels: 76.43 75.60 74.73
Trading range: 76.95 - 77.60
Buy at 77.06 SL 76.76 TP 77.46
Already made +4 pips profit on USD/JPY today from the following signal:
7:59 GMT+1 Buy USD/JPY at 77.18 SL 76.92 TP 77.68, exit sent at 8:00 GMT+1.
Total today +121, yesterday +123, as shown in details at http://www.zifx.com/performance.php.