USD/JPY 91.08 - 11 September 2009

USD/JPY Open 91.73 High 92.23 Low 90.70 Close 91.76

Dollar/Yen made another moderate bearish movement on Thursday. On the 1 hour chart is seen that there was an unsuccessful rising effort, which was limited by the support level 92.25, after which the Dollar continued weakening against the Yen, closing the day at 91.76. Important support level is 90.70, the break of which would signal for further bearish perspectives. Short term signals are expected to remain descending, with targets towards 89.55. Immediate resistance is yesterday's top at 92.25. The CCI indicator has crossed down the 100 line on the 1 hour chart, suggesting existence of bearish pressure.

Technical resistance levels: 92.25 93.40 94.60

Technical support levels: 90.70 89.55 88.60

Trading range: 91.20 - 90.55

Trend: Downward

Sell at 91.08 SL 91.38 TP 90.68

Already made +50 pips profit on USD/JPY today from the following signal:

5:37 GMT+1 Sell USD/JPY at 91.25 SL 91.51 TP 90.75 TP reached at 8:38 GMT.

Total today +138, yesterday +80, as shown at www.zifx.com/performance.php

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