USD/JPY Open 78.82 High 78.13 Low 77.63 Close 77.80
On Monday Dollar/Yen decreased insignificantly with 45 pips. The currency couple depreciated from 78.13 to 77.68 yesterday, not matching the positive Interbank sentiment at over +13%, closing the day at 77.80. This morning the Dollar descended slightly further against the Yen, dropping to 77.63. On the 1 hour chart the new upward channel is on hold, while on the 3 hour chart trading is still within wide range. Break above yesterday's top and nearest resistance 78.13 would encourage further recovery of the Dollar. Immediate support is today's bottom at 77.63, and consistent break bellow it could strengthen the Yen further down towards next target 76.83. There are no major economic events for Japan today. 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 thinly negative and inclining upwards, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 78.13 79.00 79.84
Technical support levels: 77.63 76.80 76.00
Trading range: 77.85 - 77.20
Sell at 77.72 SL 78.02 TP 77.32
Already made +26 pips profit on USD/JPY today from the following sent to clients only signal:
5:23 GMT Sell USD/JPY at 77.75 SL 78.01 TP 77.25, exit sent at 6:23 GMT+1.
Total today +129, yesterday +56, as shown in details at http://www.zifx.com/performance.php.