Dollar/Yen is currently in consolidation phase. Trading range is within the frame 96.96 - 98.43. Stabilizing of the stock markets led to increase of the Dollar against the Yen. Expensive Yen had a negative impact on the Japanese economy and the big companies. Now they can take a breath. Important milestone will be the overcome of the the key resistance 99.65. This would lead to acceleration of the depreciation of the currency couple. Short term support support levels are 97.20, followed by 95.80. At 94.10 there is a serious trend line, connecting the previous bottoms. Immediate resistance levels are 98.55, than 99.65.
Technical resistance levels: 98.55 99.65 100.70
Technical support levels: 97.20 95.80 94.50
Trading range: 98.55 - 97.90
Sell at 98.43 SL 98.73 TP 98.03
Already made +28 pips profit on USD/JPY today from the following signal:
5:45 GMT Buy USD/JPY at 98.09 SL 97.83 TP 98.59 exited at 7:51 GMT.
Total today +82, on Friday +159, as shown at www.zifx.com/performance.php