Dollar/Yen made an increasing momentum on Friday, reached the 99.50 top, and closed the week at 98.39. On the 1 hour chart the currency couple moves within the rectangle between 99.53 and 97.54 since 30 April. Short term signals are descending with targets towards the support 97.55, but remain neutral in the medium term. The CCI indicator is about to cross up the 100 line on the 1 hour chart, suggesting potential rebound in ascending mode, with possible testing of the 98.85 level. Break above this level may lead the currency pair towards next resistance level 99.60.
Technical resistance levels: 98.85 99.60 100.55
Technical support levels: 97.55 97.65 96.50
Trading range: 97.50 - 98.15
Buy at 97.64 SL 97.34 TP 98.04
Already made +45 pips profit on USD/JPY today from the following signal:
8:01 GMT+1 Sell USD/JPY at 98.67 SL 98.93 TP 98.17 exited at 8:49 GMT.
Total today +110, on Friday +91, as shown at www.zifx.com/performance.php