USD/JPY Technical Analysis 15 June 2009

By @ibtimes on

USD/JPY 98.23 - 15 June

USD/JPY Open 98.44 High 98.57 Low 97.35 Close 98.40

Dollar/Yen ascended on Friday. On the 1 hour chart the triangle formed was penetrated upwards, assuming future bullish movement continuation. Good resistance is represented by the 98.70 level. Break above this level may trigger further bullish momentum towards next objective 99.80. Immediate support is seen in 97.90. The CCI indicator has crossed up the 100 line on the 1 hour chart, assuming potential ascending pressure.

Technical resistance levels: 98.70 99.80 101.00

Technical support levels: 97.90 96.00 95.85

Trading range: 98.35 - 98.70

Trend: Downward

Sell at 98.23 SL 98.53 TP 97.83

Already made +3 pips profit on USD/JPY today from the following signal:

5:42 GMT+1 Sell USD/JPY at 98.33 SL 98.59 TP 97.83 exited at 5:46 GMT.

Total today +163, on Friday +134, as shown at www.zifx.com/performance.php

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