USD/JPY 94.67 - 17 August 2009

USD/JPY Open 94.69 High 95.47 Low 94.39 Close 94.88

Dollar/Yen made declined further on Friday down to 94.39, closing the week at 94.88. Friday's bottom and current support was tested today again, and if it is penetrated downwards, further bearish perspectives may be expected. Signals are downwards for now, with objectives towards the 93.00. However, CCI is in the oversold area and upwards on the 1 hour chart, so that be careful for a potential upward rebound with possible testing of the 94.90 resistance level.

Technical resistance levels: 94.90 96.00 97.20

Technical support levels: 94.30 93.00 91.85

Trading range: 94.80 - 94.15

Trend: Downward

Sell at 94.67 SL 94.97 TP 94.27

Already made +21 pips profit on USD/JPY today from the following signal:

5:43 GMT+1 Sell USD/JPY at 94.60 SL 94.86 TP 94.10 exited at 6:24 GMT.

Total today +161, on Friday +138, as shown at www.zifx.com/performance.php