USD/JPY 93.61 - 17 July

USD/JPY Open 93.77 High 94.48 Low 93.34 Close 93.91

The upward correction of the Dollar/Yen was stopped on Thursday. The currency couple failed to rise above the important resistance level 94.55, than dropped down to the 93.34 bottom, closing the day at 93.91. If the pair holds above 93.35, our preferable scenario in the short term would still be upwards. However there seem to be a strong key support level at 93.30. Going under this level may lead USD/JPY trigger further bearish impetus towards next target 92.10. The CCI indicator is is about to cross up the 100 line on the 1 hour chart, assuming potential ascending views.

Technical resistance levels: 94.50 95.65 96.70

Technical support levels: 93.30 92.10 90.90

Trading range: 93.50 - 94.15

Trend: Upward

Buy at 93.61 SL 93.31 TP 94.01

Already made +18 pips profit on USD/JPY today from the following signal:

5:41 GMT+1 Buy USD/JPY at 93.60 SL 93.34 TP 94.10 exited at 7:12 GMT.

Total today +93, yesterday +124, as shown at www.zifx.com/performance.php