USD/JPY Open 79.12 High 79.32 Low 78.70 Close 79.17
On Tuesday Dollar/Yen increased with nearly 50 pips, not matching the negative Interbank sentiment at almost -8%. The currency couple appreciated from 78.81 to 79.28 yesterday, closing the day at 79.17. This morning the Dollar ascended further against the Yen, climbing up to 79.32, later dropped to 78.70. On the 1 hour chart the downward channel is making renewal attempts, while on the 3 hour chart the new downward channel has slowed down. Break above today's top and nearest resistance 79.32 would encourage further recovery of the Dollar. Immediate support is today's bottom at 78.70, and consistent break bellow it could strengthen the Yen further down towards next target 78.00. Today are Japan Leading and Coincident indicators composite index and Trade balance, at 5 and 23:50 GMT respectively. Quotes are moving just bellow the even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is 70 and hesitant, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 79.32 80.16 81.00
Technical support levels: 78.70 77.84 77.00
Trading range: 79.10 - 78.45
Sell at 78.96 SL 79.26 TP 78.56
Already made +27 pips profit on USD/JPY today from the following signal:
5:30 GMT+1 Sell USD/JPY at 79.18 SL 79.44 TP 78.68, exit sent at 9:34 GMT+1.
Total today +122, yesterday +130, as shown in details at http://www.zifx.com/performance.php.