Dollar/Yen continued the downward movement yesterday. The currency couple reached the short term target and double bottom 95.51, and closed the day at 95.74. On the 4 hour chart is seen that the pair is now testing the support trend line at 95.50. Break under it may lead to a bearish short term prospects. Signals remain descending for now with objectives towards 94.50 in the near future. However, the CCI indicator is above the 100 line on the 1 hour chart, be careful for potential rebound in ascending test of the nearest resistance, represented by the 96.50 level.
Technical resistance levels: 96.50 97.65 98.85
Technical support levels: 95.50 94.50 93.45
Trading range: 96.05 - 96.40
Buy at 95.92 SL 96.22 TP 96.52
Already made +5 pips profit on USD/JPY today from the following signal:
5:42 GMT+1 Sell USD/JPY at 95.75 SL 96.01 TP 95.25 exited at 6:03 GMT.
Total today +170, yesterday +151, as shown at www.zifx.com/performance.php