USD/JPY Open 77.50 High 77.63 Low 77.14 Close 77.49
On Thursday Dollar/Yen increased slightly with 45 pips, not matching the negative Interbank sentiment at under -52%. The currency couple appreciated from 77.14 to 77.60 yesterday, closing the day at 77.49. This morning the Dollar is trading quietly against the Yen, with movements at the upper end of yesterday's range for now. On the 1 hour the trading is still caught in a range, while on the 3 hour chart the downward channel has turned into quiet trading. Break above today's top and nearest resistance 77.63 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.14, and consistent break bellow it could strengthen the Yen further down towards next target 76.29. Today are Japan Real GDP Q2 and M2+CDs money supply, both at 23:50 GMT. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is thinly positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 77.63 78.47 79.30
Technical support levels: 77.14 76.29 75.43
Trading range: 77.40 - 78.05
Buy at 77.54 SL 77.24 TP 77.94
Already made +6 pips profit on USD/JPY today from the following sent to clients only signal:
5:27 GMT+1 Sell USD/JPY at 77.49 SL 77.75 TP 76.99, exit sent at 8:01 GMT+1.
Total today +137, yesterday +105, as shown in details at http://www.zifx.com/performance.php.