Dollar/Yen traded downwards on Wednesday as expected, reaching a bottom at 91.64, where the bearish scenario was limited and the currency pair closed the day at 92.02. On the 1 hour chart there is indication for another possible upward correction from the shape of the formed convergence. Potential bullish correctional scenario may lead to test of the 92.60 resistance. Break above this level may trigger to future upward impulse. Immediate support is yesterday's bottom 91.65, the break of which might weaken the ascending adjustment and lead to renewal of the downward stream. The CCI indicator has crossed up the 100 line on the 1 hour chart, showing strong accumulated bullish pressure.
Technical resistance levels: 92.60 93.70 94.60
Technical support levels: 91.65 90.50 89.55
Buy at 92.06 SL 91.76 TP 92.46
Already made +13 pips profit on USD/JPY today from the following signal:
5:39 GMT+1 Sell USD/JPY at 92.01 SL 92.27 TP 91.51 at 5:58 GMT.
Total today +80, yesterday +101, as shown at www.zifx.com/performance.php