USD/JPY Open 80.94 High 81.12 Low 80.76 Close 80.90
On Wednesday Dollar/Yen continued trading within tight 35 pip range, not matching the negative Interbank sentiment at bellow -77%. The currency couple depreciated from 81.12 to 80.76 yesterday, closing the day at 80.90. This morning the Dollar is still quiet against the Yen, with movements within yesterday's range for now. On the 1 hour chart new small angle upward channel has emerged, while on the 3 hour chart quotes are moving within wide trading range. Break above yesterday's top and nearest resistance 81.12 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 80.76, and consistent break bellow it could strengthen the Yen further down towards next target 79.87. Today are Japan Current account, Trade balance and M2+CDs money supply, all at 23:50 GMT. Quotes are moving about in line with the almost even 20 and 50 EMA on the 1 hour chart, indicating neutral market. The value of the RSI indicator is neutral and calm, MACD is neutral and tranquil too, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 81.12 82.00 82.87
Technical support levels: 80.76 79.87 79.00
Trading range: 81.10 - 80.50
Sell at 81.00 SL 81.30 TP 80.60
Already made +6 pips profit on USD/JPY today from the following signal:
5:30 GMT+1 Sell USD/JPY at 80.94 SL 81.20 TP 80.44, exit sent at 6:24 GMT+1.
Total today +111, yesterday +113, as shown in details at http://www.zifx.com/performance.php.