USD/JPY Open 78.22 High 79.40 Low 77.42 Close 78.27
On Friday Dollar/Yen resumed decreasing significantly with 110 pips, matching the negative Interbank sentiment at nearly -66%. The currency couple depreciated from 79.40 to 78.30 on Friday, closing the day at 78.27. This morning the Dollar descended further against the Yen, dropping down to 77.42. On the 1 hour chart range trading has formed, while on the 3 hour chart the downward channel is making renewal attempts. Break above Friday's top and nearest resistance 79.40 would encourage further recovery of the Dollar. Immediate support is today's bottom at 77.42, and consistent break bellow it could strengthen the Yen further down towards next target 76.61. Today is Japan M2+CDs money supply 23:50 GMT. Quotes are moving just bellow the crossed 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 negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 79.40 80.29 81.16
Technical support levels: 77.42 76.61 75.70
Trading range: 77.85 - 77.25
Sell at 77.75 SL 78.05 TP 77.35
Already made +33 pips profit on USD/JPY today from the following signal:
5:29 GMT+1 Sell USD/JPY at 78.06 SL 78.32 TP 77.56, exit sent at 7:20 GMT+1.
Total today +193, on Friday +133, as shown in details at http://www.zifx.com/performance.php.