USD/JPY Open 76.82 High 77.16 Low 76.66 Close 76.76
On Monday Dollar/Yen decreased with 45 pips. The currency couple depreciated from 77.16 to 76.69 yesterday, not matching the positive Interbank sentiment at over +8%, closing the day at 76.76. This morning the Dollar weakened slightly further against the Yen, reaching 76.66. On the 1 hour chart new range trading has formed, while on the 3 hour chart quotes are held within wider trading range. Break above yesterday's top and nearest resistance 77.16 would encourage further recovery of the Dollar. Immediate support is today's bottom at 76.66, and consistent break bellow it could strengthen the Yen further down towards next target 75.80. There are no major economic events for Japan today. Quotes are moving just above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish impulse and medium term bearish pressure. The value of the RSI indicator is neutral and inclining upwards, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all neutral to light short signals.
Technical resistance levels: 77.16 78.00 78.88
Technical support levels: 76.66 75.80 74.89
Trading range: 76.90 - 76.25
Sell at 76.77 SL 77.07 TP 76.37
Already made +14 pips profit on USD/JPY today from the following sent to clients only signal:
5:20 GMT Sell USD/JPY at 76.72 SL 76.98 TP 76.22, exit sent at 7:31 GMT+1.
Total today +133, yesterday +94, as shown in details at http://www.zifx.com/performance.php.