As expected, the Dollar/Yen continued its decline yesterday. The currency couple made a bottom at 88.86 and closed at 89.23. Signals remain descending, with targets towards the region of 88.00. The CCI indicator is in the oversold zone and upwards on the four hour chart so be careful for increasing pressure with low levels of resistance testing at 89.55 and 90.30. Short term support level is seen at today's bottom at 88.80.
Technical resistance levels: 89.55 90.30 91.60
Technical support levels: 88.80 88.00 87.15
Trading range: 89.30 - 88.65
Sell at 89.18 SL 89.48 TP 88.78
Already made +15 pips profit on USD/JPY today from the following signal:
5:51 GMT Sell USD/JPY at 89.37 SL 89.63 TP 88.87 at 7:05 GMT.
Total today +155, yesterday +138, as shown at www.zifx.com/performance.php