USD/JPY Open 76.83 High 77.21 Low 76.34 Close 76.78
On Monday Dollar/Yen increased slightly with almost 90 pips, not matching the negative Interbank sentiment at bellow -70%. The currency couple appreciated from 76.34 to 77.21 yesterday, closing the day at 76.78. This morning the Dollar is showing some weakness against the Yen, but movements are still within yesterday's range for now. On the 1 hour chart quotes are moving within narrow trading range, while on the 3 hour chart quotes are still testing the lower limit of the downward channel. Break above yesterday's top and nearest resistance 77.21 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.34, and consistent break bellow it could strengthen the Yen further down towards next target 75.50. There are no major economic events for Japan today. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is neutral and descending, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 77.21 78.12 79.00
Technical support levels: 76.34 75.50 74.67
Trading range: 76.80 - 76.15
Sell at 76.67 SL 76.97 TP 76.27
Already made +22 pips profit on USD/JPY today from the following signal:
5:29 GMT+1 Sell USD/JPY at 76.79 SL 77.05 TP 76.29, exit sent at 9:10 GMT+1.
Total today +160, yesterday +141, as shown in details at http://www.zifx.com/performance.php.