USD/JPY Open 78.06 High 78.12 Low 77.68 Close 78.05
On Wednesday Dollar/Yen increased insignificantly with 40 pips. The currency couple appreciated from 77.68 to 78.12 yesterday, not matching the negative Interbank sentiment at bellow -15%, closing the day at 78.05. This morning the Dollar is trading quietly against the Yen, with movements at the upper side of yesterday's range for now. On the 1 hour chart quotes are moving at the upper end of the trading range, while on the 3 hour chart trading is still within wider range. Break above yesterday's top and nearest resistance 78.12 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.68, and consistent break bellow it could strengthen the Yen further down towards next target 76.84. Today is Japan BoJ monthly economic report at 5 GMT. Quotes are moving just above the crossed 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is neutral and hesitant, MACD is positive and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over neutral to light long signals.
Technical resistance levels: 78.12 78.90 80.72
Technical support levels: 77.68 76.84 76.00
Trading range: 77.95 - 78.60
Buy at 78.06 SL 78.11 TP 78.46
Already made +3 pips profit on USD/JPY today from the following sent to clients only signal:
5:21 GMT Sell USD/JPY at 78.05 SL 78.31 TP 77.55, exit sent at 6:28 GMT+1.
Total today +164, yesterday +159, as shown in details at http://www.zifx.com/performance.php.