USD/JPY Open 76.22 High 76.35 Low 76.02 Close 76.19
On Wednesday Dollar/Yen continued trading within narrow 30 pip range. The currency couple appreciated from 76.02 to 76.35 yesterday, not matching the negative Interbank sentiment at bellow -10%, closing the day at 76.19. This morning the Dollar is trading quietly against the Yen, and within yesterday's range for now. On the 1 hour chart new downward channel has formed, while on the 3 hour chart quotes broke down of the trading range. Break above yesterday's top and nearest resistance 76.35 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.02, and consistent break bellow it could strengthen the Yen further down towards next target 75.18. There are no major economic events for Japan today. Quotes are moving just bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is neutral and tranquil too, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all neutral to light short signals.
Technical resistance levels: 76.35 77.44 78.60
Technical support levels: 76.02 75.18 74.30
Trading range: 76.25 - 75.60
Sell at 76.13 SL 76.43 TP 75.73
Already made +10 pips profit on USD/JPY today from the following sent to clients only signal:
5:21 GMT Sell USD/JPY at 76.16 SL 76.42 TP 75.66, exit sent at 10:00 GMT+1.
Total today +102, yesterday +135, as shown in details at http://www.zifx.com/performance.php.