USD/JPY 95.01 - 18 August 2009

USD/JPY Open 94.38 High 95.28 Low 94.21 Close 94.50

On Monday Dollar/Yen made a moderate decreasing movement. On the 1 hour chart there is a still valid descending channel while the currency couple trades under under the former 95.30 support level, indicating a downward trend. Today, however, the Dollar is recovering against the Yen. Therefore, signals in the short term are ascending, with targets towards 95.30, which was already tested today. CCI has crossed up a the 100 line on the 1 hour chart, confirming the current upward rebound. Immediate support is yesterday's bottom at 94.20.

Technical resistance levels: 95.30 96.40 97.35

Technical support levels: 94.20 93.00 91.85

Trading range: 94.90 - 95.55

Trend: Upward

Buy at 95.01 SL 94.71 TP 95.41

Already made +33 pips profit on USD/JPY today from the following signal:

5:40 GMT+1 Buy USD/JPY at 94.86 SL 94.60 TP 95.36 exited at 8:18 GMT.

Total today +116, yesterday +161, as shown at www.zifx.com/performance.php