Yesterday the Dollar/Yen continued to be entangled in a volatile market. The currency couple made false break down of the rectangle with the bottom at 88.61, and closed the day higher at 89.06. Today we can expect break down of the valid consolidation formation with targets towatds the region of 88.00. Break above 89.85 may cause an upward correction back to 90.75. The CCI indicator is in the neutral zone the one hour chart, suggesting trading possibly within no more that 100 pips range.
Technical resistance levels: 89.55 90.30 91.60
Technical support levels: 88.80 88.00 87.15
Trading range: 89.10 - 88.45
Sell at 88.98 SL 89.28 TP 88.58
Already made +16 pips profit on USD/JPY today from the following signal:
5:50 GMT Sell USD/JPY at 88.98 SL 89.24 TP 88.48 exited at 6:32 GMT.
Total today +157, yesterday +102, as shown at www.zifx.com/performance.php