USD/JPY 90.55 - 15 March 2010
Dollar/Yen depreciated slightly on Friday down to 90.27, in line with the negative Industry sentiment at nearly -67%, from where it started rising up to 90.98, closing the week at 90.51. On the 3 hour chart the currency couple is trading within wide range and our expectations are neutral in the medium term. The inability to break 91.00 indicates limited bull's effect, and only convincing penetration above that level may lead to further strengthening of the Dollar, while break bellow Friday's bottom at 90.27 should extend the depreciating impetus towards next target downwards 88.61. There are no economic events today for Japan except for the Economic report release from the Cabinet already passed at 0:00 GMT and the Consumer confidence at 7:00 GMT, which rose for second month. Quotes are currently moving just above the 20 and 50 EMA on the 1 hour chart, indicating slight bullish pressure. The RSI indicator is positive and declining, while MACD and CCI are positive and calm, on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 90.80 91.76 92.67
Technical support levels: 90.27 89.61 88.87
Already made +18 pips profit on USD/JPY today from the following signal:
7:38 Buy USD/JPY at 90.60 SL 90.34 TP 91.10 exit sent 9:07 GMT.
Total today +156, on Friday +189, as shown in details at www.zifx.com/performance.php.