USD/JPY Open 76.36 High 76.78 Low 76.17 Close 76.33

On Monday Dollar/Yen continued decreasing with 55 pips. The currency couple depreciated from 76.78 to 76.21 yesterday, not matching the positive Interbank sentiment at bellow +18%, closing the day at 76.33. This morning the Dollar weakened slightly further against the Yen, reaching 76.17. On the 1 hour chart new downward channel is emerging, while on the 3 hour chart quotes are testing the lower limit of the trading range. Break above yesterday's top and nearest resistance 76.78 would encourage further recovery of the Dollar. Immediate support is today's bottom at 76.17, and consistent break bellow it could strengthen the Yen further down towards next target 75.30. Today are Japan Housing starts and Construction orders, both at 5 and 7:45 GMT. Quotes are moving just above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term slim bullish 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: 76.78 77.65 78.49
Technical support levels: 76.17 75.30 74.39

Trading range: 76.50 - 75.90
Trend: Downward
Sell at 76.40 SL 76.70 TP 76.00

Already made +3 pips profit on USD/JPY today from the following sent to clients only signal:
5:19 GMT Sell USD/JPY at 76.21 SL 76.47 TP 75.71, exit sent at 5:57 GMT+1.
Total today +97, yesterday +150, as shown in details at http://www.zifx.com/performance.php.

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