On Wednesday Dollar/Yen climbed to 100.52 during the U.S. session. The better data on the manufacturing orders and the rising stock market helped in increasing the risk appetite in trading the currency pair. After last year's break of the descending trend, USD/JPY is now in a stronger and increasing trading channel. The CCI indicator is in the overbought zone, so be careful for a potential decreasing pressure with testing of the support at 99.65. Strengthening under 99.25 will signal for further reduction. Going back above today's top at 100.70 may provoke rise with targets towards 101.80.
Technical resistance levels: 100.70 101.80 103.05
Technical support levels: 99.65 98.70 97.85
Trading range: 100.60 - 100.05
Sell at 100.48 SL 100.78 TP 100.18
Already made +8 pips profit on USD/JPY today from the following signal:
5:49 GMT+1 Sell USD/JPY at 100.36 SL 100.62 TP 99.86 exited at 6:24 GMT.
Total today +112, yesterday +149, as shown at www.zifx.com/performance.php