USD/JPY 91.06 - 15 September 2009

USD/JPY Open 90.85 High 91.23 Low 90.27 Close 90.92

On Monday Dollar/Yen corrected upwards, reaching a peak at 91.11, closing the day at 90.92. Yesterday's formed upward triangle triggered bullish impulse and the Dollar rose against the Yen. We may see continuation of the upward correction today with potential test of the 92.20 resistance, followed by 93.10. Convincing break of the last level may threaten and break the the main bearish channel. Immediate support is represented by the 90.25 level. Our preferably scenario for now is bullish, but be alert for possible downward trend renewal. The CCI indicator has crossed up the 100 line on the 1 hour chart, suggesting bullish pressure accumulation.

Technical resistance levels: 91.25 92.20 93.10

Technical support levels: 90.25 89.20 88.05

Trading range: 90.95 - 91.60

Trend: Upward

Buy at 91.06 SL 90.76 TP 91.46

Already made +23 pips profit on USD/JPY today from the following signal:

5:36 GMT+1 Buy USD/JPY at 91.04 SL 90.78 TP 91.54 exited at 8:32 GMT.

Total today +104, yesterday +148, as shown at