USD/JPY Open 75.76 High 79.54 Low 75.30 Close 75.76
On Friday Dollar/Yen traded within very narrow 35 pip range, matching the negative Interbank sentiment at almost -2%. The currency couple depreciated from 76.00 to 75.66 on Friday, closing the week at 75.76. This morning the Dollar jumped against the Yen with 420 pips on BoJ intervention for cheaper Yen, and after partial correction is moving quietly. On the 1 hour chart there the upward impulse dominates for now, while on the 3 hour chart the upward channel broke the pair out of the range trading. Break above today's top and nearest resistance 79.54 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 75.30, and consistent break bellow it could strengthen the Yen further down towards next target 74.44. Today were Japan Japan Housing starts and Construction orders, both at 5 GMT. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 79.54 80.40 81.26
Technical support levels: 75.30 74.44 73.60
Trading range: 78.10 - 77.50
Sell at 78.00 SL 78.30 TP 77.60
Already made +34 pips profit on USD/JPY today from the following sent to clients only signal:
5:25 GMT Buy USD/JPY at 79.19 SL 78.93 TP 79.69, exit sent at 6:04 GMT+1.
Total today +106, on Friday +90, as shown in details at http://www.zifx.com/performance.php.