The Dollar/Yen managed to return in its ascending channel and currently we see great volatility of the currency couple, but with rising intentions, as indicators show that it is in the oversold zone. The USD/JPY is targeting a correction of 38.1% at 90.87, which is the level of descending channel formed earlier. Trading range for the pair today is between the support level 88.35 and the resistance at 92.20. The major trend is descending with targets 85.00 and 82.50. No major economic news is expected for Japan today.
Technical resistance levels: 91.00 92.20 93.50
Technical support levels: 88.35 87.20 86.15
Trading range: 90.35 - 91.40
Buy at 90.49 SL 90.19 TP 90.89
Already made +10 pips profit on USD/JPY today from the following signal:
5:49 GMT Buy USD/JPY at 90.38 SL 90.12 TP 90.88 exited at 5:59 GMT.
Total today +152, yesterday +157, as shown at www.zifx.com/performance.php