USD/JPY 98.54 - 16 April

USD/JPY Open 99.26 High 99.59 Low 98.15 Close 99.37

Dollar/Yen corrected upwards yesterday. On the 1 hour chart there is a formation hammer, followed by significant bullish adjustment. Signals remain descending, but if a break above 99.60 occurs, further upward correctional scenario with targets towards 100.40 would not be unexpected. Short term descending trend will be maintained as long as the 100.40 level remains intact. Immediate support is yesterday's bottom 98.15. The CCI indicator is in the neutral zone on the 1, 4 hour and daily charts.

Technical resistance levels: 99.90 100.80 102.00

Technical support levels: 98.15 97.00 95.85

Trading range: 98.40 - 99.05

Trend: Upward

Buy at 98.54 SL 98.24 TP 98.94

Already made +7 pips profit on USD/JPY today from the following signal:

5:45 GMT+1 Buy USD/JPY at 98.96 SL 98.70 TP 99.46 exited at 6:58 GMT.

Total today +102, yesterday +182, as shown at www.zifx.com/performance.php