USD/JPY Stabilizes Above 80.6 For Now

By @ibtimes on

USD/JPY Open 80.92 High 81.12 Low 80.56 Close 80.85

On Wednesday Dollar/Yen traded within 55 pip range. The currency couple appreciated from 80.56 to 81.12 yesterday, not matching the negative Interbank sentiment at bellow -38%, closing the day at 80.85. This morning the Dollar is trading quietly against the Yen, with movements within yesterday's range for now. On the 1 hour chart the small angle downward channel is accelerating, while on the 3 hour chart range trading is forming. Break above yesterday's top and nearest resistance 81.12 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 80.56, and consistent break bellow it could strengthen the Yen further down towards next target 79.70. There are no major economic events for Japan today. Quotes are moving in line with the 20 and just above 50 EMA on the 1 hour chart, indicating short term neutral and medium term slim bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is neutral and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all neutral to light short signals.
Technical resistance levels: 81.12 82.00 82.86
Technical support levels: 80.56 79.70 78.86
Already made +18 pips profit on USD/JPY today from the following sent to clients only signal:
8:17 GMTGMT+1 Sell USD/JPY at 80.87 SL 81.13 TP 80.57, exit sent at 8:28 GMTGMT+1.
Today so far +129, yesterday +147, as shown in details at http://www.zifx.com/performance-past.php.

ZIFX.com

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