Dollar/Yen made a moderate upward movement on Tuesday. On the 4 hour chart we can see that after the significant upward momentum, the currency couple corrected downwards, forming a medium descending channel, which was now broken upwards again. Signals are rising in the short term with targets towards the region of 99.50. The nearest support is 98.20. The CCI indicator is upwards towards the 100 line on the 1 hour chart, giving potential upward signals.
Technical resistance levels: 99.00 99.85 100.70
Technical support levels: 98.20 97.35 96.40
Trading range: 98.45 - 99.05
Buy at 98.55 SL 98.25 TP 98.95
Already made +10 pips profit on USD/JPY today from the following signal:
5:49 GMT Sell USD/JPY at 98.57 SL 98.83 TP 98.07 exited at 6:39 GMT.
Total today +80, yesterday +112, as shown at www.zifx.com/performance.php