Dollar/Yen was unable to continue the descending scenario yesterday. The currency couple reached a peak at 91.10 and closed at 90.83. On the 1 hour chart the decreasing channel was broken and we already have a formed ascending channel. Currently the quotes are testing the upper trend line, but at the same time, the CCI indicator is the overbought zone and downwards, signaling for downward pressure. The signals are rising for now with possible testing of the resistance 92.00, but remain neutral in the medium term. Immediate support is 90.55. The CCI indicator is neutral on the 4 hour chart.
Technical resistance levels: 92.00 93.05 94.25
Technical support levels: 90.55 89.30 88.00
Trading range: 91.30 - 91.95
Buy at 91.44 SL 91.14 TP 91.84
Already made +3 pips profit on USD/JPY today from the following signal:
5:48 GMT Sell USD/JPY at 90.92 SL 91.18 TP 90.42 exited at 5:49 GMT.
Total today +106, yesterday +119, as shown at www.zifx.com/performance.php