USD/JPY 83.25 - 14 April 2011
USD/JPY Open 83.77 High 84.26 Low 83.10 Close 83.81
On Wednesday Dollar/Yen traded within a 75 pip range, not exactly matching the negative Interbank sentiment at almost -42%. The currency couple appreciated first from 83.50 to 83.26 yesterday, than went back down, losing the earlier gains, closing the day at 83.54. This morning the Dollar lost ground against the Yen, dropping down to 83.10. On the 1 hour chart the upward channel was broken downwards, while on the 3 hour chart the upward channel is still on hold. Break above yesterday's top and nearest resistance 84.26 would encourage further recovery of the Dollar. Immediate support is today's bottom at 83.10, and consistent break bellow it could strengthen the Yen further down towards next target 82.40. There are no major economic events for Japan today. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 84.26 85.10 86.00
Technical support levels: 83.10 82.26 81.14
Trading range: 83.35 - 82.75
Buy at 83.25 SL 83.55 TP 82.85
Already made +12 pips profit on USD/JPY today from the following signal:
5:30 GMT+1 Sell USD/JPY at 83.58 SL 83.84 TP 83.08, exit sent at 6:54 GMT+1.
Total today +172, yesterday +125, as shown in details at http://www.zifx.com/performance.php.