USD/JPY 90.78 - 18 June 2010

USD/JPY Open 91.00 High 91.43 Low 90.54 Close 91.86

On Thursday Dollar/Yen continued the main decreasing trend from the beginning of this week, in line with the Interbank sentiment at nearly -59%. The currency couple depreciated from 91.43 to 90.54 yesterday, closing the day at 91.86. Today trading is hesitant with little descending efforts so far. On the 1 hour chart the pair may soon be breaking down the trade range, while on the 3 hour chart it is still in a consolidation phase. Break above yesterday's top and nearest resistance 91.43 would support further recovery of the Dollar. Immediate support is yesterday's bottom at 90.54, and consistent break bellow it could strengthen the Yen further towards next target 89.30. There are no major economic events for Japan today. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is negative and calm, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.Technical resistance levels: 91.43 92.88 93.55Technical support levels: 90.54 89.30 88.49

Trading range: 90.90 - 90.25Trend: DownwardSell at 90.78 SL 91.08 TP 90.38

Already made +34 pips profit on USD/JPY today from the following signal:5:29 GMT+1 Sell USD/JPY at 90.89 SL 91.15 TP 90.39 exit at 8:46 GMT+1.Total today +155, yesterday +88, as shown in details at