USD/JPY Open 79.28 High 79.53 Low 79.16 Close 79.26
On Tuesday Dollar/Yen continued decreased insignificantly with 30 pips. The currency couple depreciated from 79.53 to 79.21 yesterday, matching the negative money flow sentiment at around -13%, closing the day at 79.26. This morning the Dollar dropped slightly further against the Yen, reaching 79.16.
On the 1 hour chart the upward channel is on hold, while on the 3 hour chart quotes are still moving within wide range. Break above yesterday's top and nearest resistance 79.53 would encourage further recovery of the Dollar. Immediate support is today's bottom at 79.16, and consistent break bellow it could strengthen the Yen further down towards next target 78.30.
There are no major economic events for Japan today.
Quotes are moving in line with the 20 and just above the 50 EMA on the 1 hour chart, indicating short term neutral and medium term slim bullish pressure. The value of the RSI indicator is neutral and calm, MACD is positive and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 79.53 80.40 81.24
Technical support levels: 79.16 78.30 77.48
Today so far +6 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Sell USD/JPY at 79.30 SL 79.56 TP 78.80, exit sent at 7:11 GMT+1.
Today so far +68, yesterday +102, as shown at www.zifx.com/performance.php.