On Monday Dollar/Yen traded lower. The currency couple made a bottom at 90.15 and closed at 90.66. On the 1 hour chart we can see that the pair is trading within the range 90.10 - 91.25, indicating a consolidation phase. Break out of this rectangle will give us a clearer direction. Break down may be ending the short term upward adjustment and turning our eyes back to the basic descending scenario. The CCI indicator is downwards to the 100 line on the 1 hour chart, signaling for a possible downward pressure.
Technical resistance levels: 91.25 92.20 93.50
Technical support levels: 89.60 87.80 86.45
Trading range: 90.70 - 90.05
Sell at 90.56 SL 90.86 TP 90.16
Already made +7 pips profit on USD/JPY today from the following signal:
5:50 GMT Sell USD/JPY at 90.28 SL 90.54 TP 89.78 exited at 5:52 GMT.
Total today +185, yesterday +127, as shown at www.zifx.com/performance.php