USD/JPY 85.33 - 18 August 2010

USD/JPY Open 85.59 High 85.68 Low 85.17 Close 85.51

On Tuesday Dollar/Yen increased insignificantly, in converse with the very negative Interbank sentiment at nearly -80%. The currency couple appreciated from 85.17 to 85.65 yesterday, closing the day at 85.51. Today movements are neutral so far. On the 1 hour trading is within range, and on the 3 hour chart the downward channel has slowed down. Break above yesterday's top and nearest resistance 85.68 would support further recovery of the Dollar. Immediate support is yesterday's bottom at 85.17, and consistent break bellow it could strengthen the Yen further down towards next target 84.00. Today were the Japan Leading indicators composite index and Coincident indicators composite index, already passed at 5 GMT. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and declining, MACD is neutral and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 85.68 86.55 87.72
Technical support levels: 85.12 84.00 83.17

Already made +3 pips profit on USD/JPY today from the following signal:
5:33 GMT+1 Sell USD/JPY at 85.43 SL 85.69 TP 84.93 exit sent at 6:48 GMT+1.
Total today +119, yesterday +152, as shown in details at http://www.zifx.com/performance.php.

USD/JPY