USD/JPY 94.94 - 15 May

USD/JPY Open 96.02 High 96.16 Low 94.80 Close 95.79

Dollar/Yen corrected upwards yesterday. This was a normal correction after the strong bearish movement signal since 8 May. Short term signals are neutral. Key resistance is represented by yesterday's top 96.15 level. The longer the currency couple holds under it, the more likely is to see another decreasing movement. Upward break of the above resistance may break the major downward trend of the USD/JPY and lead to a reverse scenario. The CCI indicator is in the oversold area and upwards on the daily chart, suggesting a potential upward pressure.

Technical resistance levels: 96.15 97.80 98.80

Technical support levels: 95.10 96.00 94.85

Trading range: 95.05 - 94.40

Trend: Downward

Sell at 94.94 SL 95.24 TP 94.54

Already made +50 pips profit on USD/JPY today from the following signal:

5:46 GMT+1 Sell USD/JPY at 95.95 SL 96.21 TP 95.45 TP reached at 7:47 GMT.

Total today +187, yesterday +113, as shown at