USD/JPY 80.28 - 14 June 2011
USD/JPY Open 80.17 High 80.69 Low 80.08 Close 80.22
On Monday Dollar/Yen decreased insignificantly with 55 pips, matching the negative Interbank sentiment at bellow -12%. The currency couple depreciated from 80.69 to 80.11 yesterday, closing the day at 80.22. This morning the Dollar descended even further against the Yen, dropping down to 80.08, and is moving quietly ever since. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart quotes bounced of the lower limit of the wider trading range. Break above yesterday's top and nearest resistance 80.69 would encourage further recovery of the Dollar. Immediate support is today's bottom at 80.08, and consistent break bellow it could strengthen the Yen further down towards next target 79.22. Today are Japan BoJ meeting announcement and Industrial output, at 3:30 and 4:30 GMT respectively. Quotes are moving bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and declining, MACD is thinly neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 80.69 81.55 82.39
Technical support levels: 80.08 79.22 78.40
Trading range: 80.40 - 79.75
Sell at 80.28 SL 80.58 TP 79.88
Already made +3 pips profit on USD/JPY today from the following signal:
5:29 GMT+1 Sell USD/JPY at 80.25 SL 80.51 TP 79.75, exit sent at 5:38 GMT+1.
Total today +91, yesterday +73, as shown in details at http://www.zifx.com/performance.php.