USD/JPY Open 76.73 High 77.23 Low 76.30 Close 76.85

On Wednesday Dollar/Yen continued decreasing with 80 pips, matching the negative Interbank sentiment at nearly -75%. The currency couple depreciated from 77.15 to 76.33 yesterday, closing the day at 76.85. This morning the Dollar spiked up against the Yen, jumping from 76.30 to 77.23. On the 1 hour chart trading is testing the bottom of the trading range, while on the 3 hour chart the downward channel is still attempting to renew. Break above today's top and nearest resistance 77.23 would encourage further recovery of the Dollar. Immediate support is today's bottom at 76.30, and consistent break bellow it could strengthen the Yen further down towards next target 75.47. Today is Japan Industrial output at 23:50 GMT. Quotes are moving just bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is thinly negative and declining, MACD is thinly negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 77.23 78.10 79.00
Technical support levels: 76.30 75.47 74.60

Trading range: 76.70 - 76.05
Trend: Downward
Sell at 76.57 SL 76.87 TP 76.17

Already made +32 pips profit on USD/JPY today from the following signal:
5:31 GMT+1 Sell USD/JPY at 76.62 SL 76.88 TP 76.12, exit sent at 8:19 GMT+1.
Total today +144, yesterday +116, as shown in details at http://www.zifx.com/performance.php.

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