Dollar/Yen was unable to continue the upward movement on Friday. On the 4 hour chart is seen that that the currency couple failed to remain above the key 96.70 resistance level, after which USD/JPY declined, reaching a bottom at 95.05, and closing the week at 95.30. Signals are descending for now, with objectives towards 94.40, but remain neutral in the middle term. The CCI indicator has just crossed up the 100 line on the 1 hour chart, suggesting potential upward pressure with possible test of the 95.35 resistance. Break above may lead the couple towards further higher levels.
Technical resistance levels: 95.35 96.30 97.25
Technical support levels: 94.45 93.35 92.20
Trading range: 94.85 - 94.5205
Sell at 94.71 SL 95.01 TP 94.31
Already made +8 pips profit on USD/JPY today from the following signal:
7:14 GMT+1 Buy USD/JPY at 95.28 SL 95.02 TP 95.78 exited at 7:17 GMT.
Total today +142, on Friday +116, as shown at www.zifx.com/performance.php