USD/JPY Open 76.77 High 77.21 Low 75.93 Close 76.50
On Friday Dollar/Yen continued decreasing insignificantly with almost 100 pips, matching the negative Interbank sentiment at almost -80%. The currency couple depreciated from 76.97 to 75.93 on Friday, closing the week at 76.50. This morning the Dollar jumped up against the Yen, reaching 77.21, than dropped down. On the 1 hour chart quotes are moving within narrow trading range, while on the 3 hour chart quotes are still fighting the lower limit of the downward channel. Break above Friday's top and nearest resistance 77.21 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 75.93, and consistent break bellow it could strengthen the Yen further down towards next target 75.00. There are no major economic events for Japan today. Quotes are moving just above the almost even and crossed 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and tranquil too, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 77.21 78.12 79.00
Technical support levels: 75.93 75.00 74.14
Trading range: 76.90 - 76.30
Sell at 76.80 SL 77.10 TP 76.40
Already made +8 pips profit on USD/JPY today from the following signal:
5:28 GMT+1 Sell USD/JPY at 76.75 SL 77.01 TP 76.25, exit sent at 7:49 GMT+1.
Total today +141, on Friday +112, as shown in details at http://www.zifx.com/performance.php.