USD/JPY 85.74 - 13 August 2010

USD/JPY Open 86.07 High 86.17 Low 84.95 Close 85.90

On Thursday Dollar/Yen increased, recovering from previous days' losses, in line with the positive Interbank sentiment at around +14%. The currency couple appreciated from 84.95 to 85.15 yesterday, closing the day at 85.90. Today downward trend has resumed. On the 1 hour the downward channel has slowed down, and on the 3 hour chart quotes are testing the upper limit of the the downward channel. Break above today's top and nearest resistance 86.17 would support further recovery of the Dollar. Immediate support is yesterday's bottom at 84.95, and consistent break bellow it could strengthen the Yen further down towards next target 84.00. There are no major economic events for Japan today. Quotes have crossed down the 20 and and are also reaching dawn the 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and declining, MACD is positive and dropping, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 86.17 87.00 87.87
Technical support levels: 84.95 84.00 83.13

Already made +23 pips profit on USD/JPY today from the following signal:
5:34 GMT+1 Sell USD/JPY at 86.09 SL 86.35 TP 85.59 exit sent at 8:16 GMT+1.
Total today +115, yesterday +91, as shown in details at http://www.zifx.com/performance.php.

USD/JPY