USD/JPY 93.16 - 15 April 2010
Dollar/Yen was trading hesitantly on Wednesday, in line with the uncertain Interbank sentiment at nearly -4%. Yesterday the currency couple dropped from 93.61 to 92.90, closing the day at 93.24. Break above the nearest 93.61 resistance level would support further bullish outlook. The medium term trend is turning into bearish as the downward impulse is gaining momentum on the 1 hour charts. Immediate support is yesterday's bottom at 92.90, and consistent break bellow it would strengthen the Yen further. There are no major economic events for Japan today besides the already passed Industrial output at 4:30 GMT. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The RSI and MACD indicators are positive and quiet, while CCI is negative and calm on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 93.61 94.71 98.80
Technical support levels: 92.90 91.80 90.96
Already made +38 pips profit on USD/JPY today from the following signal:
5:34 GMT+1 Sell USD/JPY at 93.39 SL 93.65 TP 92.89 exit at 8:36 GMT+1.
Total today +89, yesterday +107, as shown in details at www.zifx.com/performance.php.