USD/JPY 91.88 - 12 January 2010

USD/JPY Open 92.10 High 92.63 Low 91.65 Close 92.07

Dollar/Yen started forming new downward trend on the 15 minutes chart, while on the 1 hour is neutral, and still bullish on the 3 hour chart. On Monday the currency couple started dropping from the 92.63 top down to 91.85, closing the day at 92.07. On the 3 hour chart quotes are testing the lower limit of the upward channel at 91.65. Consistent break bellow it may seriously threaten the bullish perspective and trigger stronger downward impulse with possible test of 90.70, followed by 89.82. Immediate resistance is yesterday's top at 92.63. The CCI indicator has crossed down the 100 line on the 1 hour chart, suggesting bearish pressure.
Technical resistance levels: 92.63 93.72 94.55
Technical support levels: 91.65 90.70 89.82

Already made +4 pips profit on USD/JPY today from the following signal:
5:36 Buy USD/JPY at 92.24 SL 91.98 TP 92.74 exited at 5:39 GMT.
Total today +66, yesterday +158, as shown in details at www.zifx.com/performance.php.

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