Dollar/Yen formed a typical rounded top model on a daily basis. After that followed a serious appreciation of the Yen. This was contrary to the correlation in time between forex and stock markets. Yesterday downward movement was for over 300 pips. Important for the course will be the mood of investors on the stock markets and the signals from the banks for potential interventions on the currency market. Short term support levels are 95.30 followed by 94.40. Immediate resistance level is 96.60 followed by 98.15.
Technical resistance levels: 96.60 98.15 99.85
Technical support levels: 95.30 94.40 93.15
Trading range: 95.95 - 95.05
Sell at 95.82 SL 96.12 TP 95.42
Already made +18 pips profit on USD/JPY today from the following signal:
6:17 GMT Sell USD/JPY at 95.64 SL 95.90 TP 95.14 exited at 6:24 GMT.
Total today +146, yesterday +80, as shown at www.zifx.com/performance.php