Dollar/Yen continued its decreasing momentum yesterday, as expected. The currency couple made a bottom at 96.09 and closed at 96.42. On the 4 hour chart USD/JPY is now ready to test the main trend line as a support. Break down of the trend line may lead to further decreasing scenario. Signals are descending in the short term with targets towards 95.70. The nearest resistance is 96.75. The CCI indicator is in the oversold area and upwards of 4 hour chart, so be careful for a potential upward correction.
Technical resistance levels: 97.80 98.80 99.60
Technical support levels: 95.70 96.55 95.75
Trading range: 96.35 - 95.70
Sell at 96.24 SL 96.54 TP 95.84
Already made +4 pips profit on USD/JPY today from the following signal:
6:25 GMT+1 Buy USD/JPY at 96.65 SL 96.39 TP 97.15 exited at 6:26 GMT.
Total today +119, yesterday +106, as shown at www.zifx.com/performance.php