USD/JPY 99.89 - 14 April

USD/JPY Open 100.02 High 100.70 Low 99.45 Close 100.07

Yesterday Dollar/Yen did not make any decisive movement. Focus remains on the downward turning of the scenario, indicated by the ascending wedge formation. On the 4 hour chart we can see that the quotes are currently testing the support trend line at 99.45. Break under it may trigger decreasing momentum with targets towards the region of 98.60. Closure under last week's bottom should confirm the forming of the short term top. The CCI indicator passed up the 100 line on the 1 hour chart, so be careful for potentially ascending pressure with test of the 100.40 resistance.

Technical resistance levels: 100.40 101.80 103.05

Technical support levels: 99.45 98.60 97.45

Trading range: 100.00 - 99.35

Trend: Downward

Sell at 99.89 SL 100.19 TP 99.49

Already made +24 pips profit on USD/JPY today from the following signal:

5:45 GMT+1 Sell USD/JPY at 99.86 SL 100.12 TP 99.36 exited at 7:19 GMT.

Total today +130, yesterday +178, as shown at www.zifx.com/performance.php