On Friday Dollar/Yen showed bullish power. The currency rose with over 250 pips from 95.11 to 97.71, where the bearish movement was limited, closing the week at 97.53. Immediate support is the above bottom, break of which may trigger further bearish impulse towards next objective 94.00. Our preferable short term scenario is downwards, especially if the above bottom is broken. Immediate resistance is Friday's peak at 97.70. The CCI indicator has crossed down the 100 line on the 1 hour chart, suggesting further possible downward perspectives.
Technical resistance levels: 97.70 99.00 100.10
Technical support levels: 95.10 94.00 92.85
Trading range: 97.55 - 96.90
Sell at 97.42 SL 97.72 TP 97.02
+16 pips profit on USD/JPY today from the following signal:
5:38 GMT+1 Sell USD/JPY at 97.24 SL 97.50 TP 96.74 exited at 5:43 GMT.