USD/JPY Open 79.17 High 79.57 Low 78.46 Close 79.12
On Thursday Dollar/Yen jumped in the morning with 110 pips, not matching the negative Interbank sentiment at bellow -16%. The currency couple appreciated from 78.46 to 79.57 yesterday, closing the day at 79.12. This morning the Dollar is trading quietly against the Yen, and within yesterday's range for now, as Japan warned on too strong Yen. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart new downward channel has emerged. Break above yesterday's top and nearest resistance 79.57 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 78.46, and consistent break bellow it could strengthen the Yen further down towards next target 77.38. There are no major economic events for Japan today. Quotes are moving in line with the 20 and above the 50 EMA on the 1 hour chart, indicating generally neutral market. The value of the RSI indicator is neutral and declining, MACD is neutral and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 79.57 80.46 81.32
Technical support levels: 78.46 77.59 76.70
Trading range: 79.35 - 78.70
Sell at 79.24 SL 79.54 TP 78.84
Already made +9 pips profit on USD/JPY today from the following signal:
5:32 GMT+1 Sell USD/JPY at 79.21 SL 79.47 TP 78.71, exit sent at 7:22 GMT+1.
Total today +143, yesterday +129, as shown in details at http://www.zifx.com/performance.php.