USD/JPY 89.91 - 1 October 2009
On Wednesday Dollar/Yen made a moderate decreasing momentum, reaching a bottom at 89.37, where the bearish impulse was limited, and the currency couple started rising, closing the day at 89.68. On the 3 hour chart the upward triangular formation provides a potential threat to the bearish outlook. However, it is not sure yet whether the formation will lead to a correction or a total turn around. Strong and important resistance is represented by today's top at 90.15. Break above this level may trigger stronger bullish impulse towards 91.35. The nearest support is yesterday's bottom 89.35. The CCI indicator has crossed up the 100 line on the 1 hour chart, suggesting upward pressure.
Technical resistance levels: 90.15 91.35 92.55
Technical support levels: 89.35 88.45 87.50
Buy at 89.91 SL 89.61 TP 90.31
Already made +1 pips profit on USD/JPY today from the following signal:
5:34 GMT+1 Sell USD/JPY at 89.92 SL 90.18 TP 89.42 exited at 5:36 GMT.
Total today +135, yesterday +107, as shown at www.zifx.com/performance.php