USD/JPY 93.74 - 15 July

USD/JPY Open 93.39 High 93.76 Low 92.76 Close 93.53

On Tuesday Dollar/Yen attempted to decrease to the bottom of 92.76, but further bearish pressure was limited and the currency pair climbed insignificantly with 100 pips up to the 93.76 top, closing the day at 93.53. Signals remain neutral in the short term, but our preferred scenario is downwards. A key support is seen at 92.00, with a double bottom formed on the 1 hour chart there. Break below this level may lead to further descending momentum towards next target 90.80. The nearest resistance is yesterday's top at 93.80. If penetrated, further bullish impetus might be triggered. The CCI indicator is in the neutral zone on the 1 hour chart.

Technical resistance levels: 93.75 94.00 95.35

Technical support levels: 92.75 92.00 90.80

Trading range: 93.85 - 93.20

Trend: Downward

Sell at 93.74 SL 94.04 TP 93.34

Already made +11 pips profit on USD/JPY today from the following signal:

5:40 GMT+1 Buy USD/JPY at 93.53 SL 93.27 TP 94.03 exited at 7:02 GMT.

Total today +160, yesterday +182, as shown at