USD/JPY 82.52 - 19 April 2011

USD/JPY Open 82.34 High 83.27 Low 82.18 Close 82.64

On Monday Dollar/Yen decreased significantly with almost 110 pips, matching the negative Interbank sentiment at bellow -50%. The currency couple depreciated from 83.27 to 82.18 yesterday, closing the day at 82.64. This morning the Dollar is moving quietly against the Yen, at the lower side of yesterday's range. On the 1 hour chart new downward channel has emerged, while on the 3 hour chart trading is moving into a range. Break above yesterday's top and nearest resistance 83.27 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 82.18, and consistent break bellow it could strengthen the Yen further down towards next target 81.30. Today are the Japan Trade balance and Tertiary activity index, both at 23:50 GMT. Quotes are moving just above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term slim bullish and medium term bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is negative and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall neutral to light long signals.
Technical resistance levels: 83.27 84.17 85.00
Technical support levels: 82.18 81.30 80.42

Trading range: 82.40 - 83.05
Trend: Upward
Buy at 82.52 SL 82.22 TP 82.92

Already made +3 pips profit on USD/JPY today from the following signal:
5:30 GMT+1 Sell USD/JPY at 82.43 SL 82.69 TP 81.93, exit sent at 6:05 GMT+1.
Total today +76, yesterday +121, as shown in details ar http://www.zifx.com/performance.php.

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