Dollar/Yen made indecisive movement yesterday, forming divergence on the daily chart. The upward momentum could not break the 99.70 resistance, pulled down and struck the bottom at 98.51, before closing at 99.28. On the 4 hour chart there is a formed triangle, indicating consolidation. Signals are neutral for now. Immediate resistance is 99.70. Break above this level may lead to further ascending momentum with targets towards 100.40. Short term support is 98.55. The CCI indicator is in the neutral zone of the 4 hour and daily charts.
Technical resistance levels: 99.70 100.80 102.00
Technical support levels: 98.55 97.25 95.95
Trading range: 99.60 - 98.95
Sell at 99.46 SL 99.76 TP 99.06
Already made +3 pips profit on USD/JPY today from the following signal:
5:45 GMT+1 Sell USD/JPY at 99.43 SL 99.69 TP 98.93 exited at 5:46 GMT.
Total today +127, yesterday +102, as shown at www.zifx.com/performance.php