USD/JPY 80.35 - 13 June 2011

USD/JPY Open 80.30 High 80.69 Low 79.96 Close 80.27

On Friday Dollar/Yen increased insignificantly with almost 50 pips, matching the positive Interbank sentiment at almost +19%. The currency couple appreciated from 79.96 to 80.44 on Friday, closing the week at 80.27. This morning the Dollar strengthened even further against the Yen, climbing up to 80.69. On the 1 hour chart the downward channel was broken upwards, while on the 3 hour chart quotes bounced of the lower limit of the wider trading range. Break above today's top and nearest resistance 80.69 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 79.96, and consistent break bellow it could strengthen the Yen further down towards next target 79.00. There are no major economic events for Japan today. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is thinly positive and calm, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 80.69 81.55 82.39
Technical support levels: 79.96 79.00 78.16

Trading range: 80.25 - 80.85
Trend: Upward
Buy at 80.35 SL 80.05 TP 80.75

Already made +3 pips profit on USD/JPY today from the following signal:
5:29 GMT+1 Buy USD/JPY at 80.52 SL 80.26 TP 81.02, exit sent at 5:42 GMT+1.
Total today +73, on Friday +146, as shown in details at http://www.zifx.com/performance.php.

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