USD/JPY Open 78.37 High 78.73 Low 78.08 Close 78.48
On Friday Dollar/Yen decreased insignificantly with 45 pips, not matching the positive Interbank sentiment at above +7%. The currency couple depreciated from 78.73 to 78.27 on Friday, closing the week at 78.48. This morning the Dollar weakened further against the Yen, dropping down to 78.08. On the 1 hour chart the downward channel is slowly resuming, while on the 3 hour chart the new downward channel has renewed. Break above Friday's top and nearest resistance 78.73 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 78.08, and consistent break bellow it could strengthen the Yen further down towards next target 77.25. There are no major economic events for Japan today. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 78.73 79.60 80.44
Technical support levels: 78.08 77.25 76.36
Trading range: 78.30 - 77.70
Sell at 78.20 SL 78.50 TP 77.80
Already made +18 pips profit on USD/JPY today from the following signal:
5:29 GMT+1 Sell USD/JPY at 79.39 SL 79.65 TP 78.89, exit sent at 8:24 GMT+1.
Total today +143, on Friday +110, as shown in details at http://www.zifx.com/performance.php.