After Dollar/Yen broke 98.14 and managed to reach 99.42, it returned for second test to the 98.15 support level, as according to indicators the currency couple is in the overbought zone. It is possible for the USD/JPY to renew its ascending movement with targets towards the 100.65 channel, if it fails to break the above support. However, it is quite possible to see correction towards 97.65 level before the currency couple climbs to 101.80. All this can happen unless Dollar reaches 96.70 against the Yen. Trading range is between 90.10 and 102.50. General trend is still descending, till 102.50 remains untouched, with targets 85.00, followed by 82.80.
Technical resistance levels: 99.45 100.60 101.80
Technical support levels: 97.65 96.60 94.75
Trading range: 99.30 - 98.65
Sell at 99.16 SL 99.46 TP 98.76
Already made +45 pips profit on USD/JPY today from the following signal:
5:49 GMT Buy USD/JPY at 98.53 SL 98.27 TP 99.03 exited at 7:45 GMT.
Total today +154, yesterday +111, as shown at www.zifx.com/performance.php