USD/JPY 89.26 - 14 October 2009
On Tuesday the upward adjustment of the Dollar/Yen stopped. The currency couple tried to rise, reaching a peak at 90.14, closing the day at 89.67. Immediate support is this morning's bottom at 88.85 level. The longer the Dollar is trading above this zone against the Yen, the opportunity for further upward correction with possible test of 90.15, followed by 91.25 remains. Failure of successive movement over that level, however, may lead to shake of the adjustment and renewal of the downward trend towards 87.75. The CCI indicator is neutral on the 1 hour chart, suggesting calm trading.
Technical resistance levels: 90.15 91.25 92.40
Technical support levels: 88.85 87.75 86.55
Sell at 89.26 SL 89.56 TP 88.86
Already made +13 pips profit on USD/JPY today from the following signal:
7:47 GMT+1 Sell USD/JPY at 89.17 SL 89.43 TP 88.67 exited at 8:37 GMT.
Total today +83, yesterday +88, as shown at www.zifx.com/performance.php