USD/JPY Open 76.99 High 77.38 Low 76.86 Close 77.01
On Monday Dollar/Yen traded within narrow 30 pip range. The currency couple depreciated from 77.17 to 76.86 yesterday, not matching the positive Interbank sentiment at nearly +9%, closing the day at 77.01. This morning the Dollar increased against the Yen on poor Japanese economy signs, climbing up to 77.38. On the 1 hour chart quotes are still held within trading range, while on the 3 hour chart new lower level trading range has formed. Break above today's top and nearest resistance 77.38 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.86, and consistent break bellow it could strengthen the Yen further down towards next target 76.00. Today are Japan BoJ meeting announcement and Trade balance, at 3:30 and 23:50 GMT respectively. Quotes are moving way above the crossing 20 and 50 EMA on the 1 hour chart, indicating strong bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and rising too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 77.38 78.25 79.06
Technical support levels: 76.86 76.00 75.08
Trading range: 77.20 - 77.85
Buy at 77.32 SL 77.02 TP 77.72
Already made +3 pips profit on USD/JPY today from the following sent to clients only signal:
5:20 GMT Sell USD/JPY at 77.02 SL 77.28 TP 76.52, exit sent at 7:05 GMT+1.
Total today +135, yesterday +165, as shown in details at http://www.zifx.com/performance.php.