Dollar/Yen was unable to continue the upward momentum on Wednesday. The currency couple attempted to rise, reaching a peak at 99.44, before it crashed back down to 98.22, closing at 98.49. On the 1 hour chart there is a triangle formation, indicating consolidation phase after the significant ascending momentum. Signals remain neutral for the time being. Immediate resistance is seen around the 99.80 level. Short term support is 98.25 followed by 97.40. The CCI indicator is in neutral zone on the 1 hour chart.
Technical resistance levels: 99.80 100.90 102.00
Technical support levels: 98.25 97.40 96.15
Trading range: 99.45 - 100.10
Buy at 99.59 SL 99.29 TP 99.99
Already made +17 pips profit on USD/JPY today from the following signal:
5:45 GMT Sell USD/JPY at 98.84 SL 99.10 TP 98.34 exited at 6:39 GMT.
Total today +171, yesterday +154, as shown at www.zifx.com/performance.php