USD/JPY 97.69 - 12 May

USD/JPY Open 97.47 High 98.82 Low 97.14 Close 97.46

Dollar/Yen also decreased yesterday with over 150 pips. On the 4 hour chart after the break down of the 98.00 support, the currency couple reached the bottom 97.27 and closed the day higher at 97.46. Signals are descending in the short term with possible testing of the support level 97.10. The CCI indicator, however is in the oversold area and upwards of 4 hour chart, so be careful for a potential rebound in ascending mode with testing of the nearest resistance and former support level 98.00.

Technical resistance levels: 98.00 98.80 99.60

Technical support levels: 97.10 96.00 94.75

Trading range: 97.80 - 97.15

Trend: Downward

Sell at 97.69 SL 97.99 TP 97.29

Already made +8 pips profit on USD/JPY today from the following signal:

5:40 GMT+1 Sell USD/JPY at 97.29 SL 97.55 TP 96.79 exited at 6:14 GMT.

Total today +106, yesterday +110, as shown at www.zifx.com/performance.php