USD/JPY Open 78.58 High 79.38 Low 78.27 Close 78.57

On Wednesday Dollar/Yen continued decreasing sharper with 110 pips. The currency couple depreciated from 79.38 to 78.27 yesterday, matching the negative money flow sentiment at under -22%, closing the day at 78.57. This morning the Dollar is trading quietly against the Yen, with movements at the lower end of yesterday's range for now.

On the 1 hour chart range trading is forming, while on the 3 hour chart quotes are still moving within wider range. Break above yesterday's top and nearest resistance 79.38 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 78.27, and consistent break bellow it could strengthen the Yen further down towards next target 77.40.

There are no major economic events for Japan today.

Quotes are moving bellow the crossing 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is positive 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: 79.38 80.25 81.10
Technical support levels: 78.27 77.40 76.56

Today so far +7 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:17 GMT+1 Sell USD/JPY at 78.53 SL 78.79 TP 78.03, exit sent at 7:27 GMT+1.
Today so far +78, yesterday +68, as shown at