USD/JPY Open 78.76 High 79.32 Low 78.61 Close 78.73
On Wednesday Dollar/Yen decreased with 50 pips, matching the negative Interbank sentiment at almost -8%. The currency couple depreciated from 79.32 to 78.70 yesterday, closing the day at 78.73. This morning the Dollar descended further against the Yen, dropping down to 78.61. 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 yesterday's top and nearest resistance 79.32 would encourage further recovery of the Dollar. Immediate support is today's bottom at 78.61, and consistent break bellow it could strengthen the Yen further down towards next target 77.74. Today was Japan All industry index at 4:30 GMT. Quotes are moving above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI is positive and inclining upwards, MACD is negative and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 79.32 80.16 81.00
Technical support levels: 78.61 77.74 76.90
Trading range: 79.05 - 78.40
Sell at 78.92 SL 79.22 TP 78.52
Already made +32 pips profit on USD/JPY today from the following signal:
6:16 GMT+1 Sell USD/JPY at 79.03 SL 79.29 TP 78.53, exit sent at 8:40 GMT+1.
Total today +139, yesterday +122, as shown in details at http://www.zifx.com/performance.php.