USD/JPY Open 77.24 High 77.58 Low 76.92 Close 77.30
On Wednesday Dollar/Yen increased with 65 pips. The currency couple appreciated from 76.92 to 77.58 yesterday, matching the positive Interbank sentiment at over +13%, closing the day at 77.30. This morning the Dollar corrected, and commenced climbing again against the Yen, with movements within yesterday's range for now. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart wide range trading has formed. Break above yesterday's top and nearest resistance 77.58 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.92, and consistent break bellow it could strengthen the Yen further down towards next target 76.00. There are no major economic events for Japan today. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term bullish pressure. The value of the RSI indicator is negative and calm, MACD is neutral and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over neutral signals.
Technical resistance levels: 77.58 78.40 79.26
Technical support levels: 76.92 76.00 75.14
Trading range: 76.95 - 77.60
Buy at 77.08 SL 76.78 TP 77.48
Already made +13 pips profit on USD/JPY today from the following sent to clients only signal:
5:23 GMT Buy USD/JPY at 77.06 SL 76.80 TP 77.56, exit sent at 7:54 GMT+1.
Total today +89, yesterday +115, as shown in details at http://www.zifx.com/performance.php.