Dollar/Yen descended sharply on Monday. The currency couple reached a top at 98.57, but failed to overcome the the 98.60 resistance, and closed the day lower at 97.84. On the 1 hour chart is seen that after the unconvincing break up of the triangle formed, the pair sharply dropped in early morning trading today and broke down the triangle. Short term signals are descending, with objectives towards 95.60. The CCI indicator has crossed down the 100 on the 1 hour chart, suggesting potential descending pressure with possible test of the next 94.50 support level.
Technical resistance levels: 97.65 98.55 99.80
Technical support levels: 95.60 94.50 93.15
Trading range: 96.55 - 97.15
Buy at 96.65 SL 96.35 TP 97.05
Already made +50 pips profit on USD/JPY today from the following signal:
5:44 GMT+1 Sell USD/JPY at 96.66 SL 96.92 TP 96.16 TP reached at 6:55 GMT.
Total today +169, yesterday +163, as shown at www.zifx.com/performance.php