USD/JPY 89.61 - 12 February 2010

USD/JPY Open 89.81 High 90.35 Low 89.35 Close 89.75

Dollar/Yen is still moving within the well formed downward channel on the daily chart, while on the 15 minute chart the currency couple is consistently climbing this week, reaching new resistance level at 90.35 today. The above level is holding the bullish attacks so far, but a convincing break above may lead to further strengthening of the Dollar, towards next objective 91.15. Immediate support is yesterday's bottom at 89.35. Break bellow that level should confirm the continuation of the decreasing trend, and may give the bears advance towards 88.40. Prices are currently above the 20 and 50 EMA, signaling for possible intraday appreciative movement, which is not expected to interrupt the continuation of the main bearish trend in the longer term. The RSI and CCI indicators are positive and slightly rising, while MACD is neutral and leaning upwards, giving, overall bullish signals.
Technical resistance levels: 90.35 91.15 91.80
Technical support levels: 89.35 88.40 87.52

Already made +11 pips profit on USD/JPY today from the following signal:
7:27 Sell USD/JPY at 90.00 SL 90.26 TP 89.50 exit sent 8:26 GMT.
Total today +146, yesterday +120, as shown in details at www.zifx.com/performance.php.

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