Last week Dollar/Yen fell, forming divergence on the weekly chart, and maintaining the trading under 100.50 on the MA 60. This carries risk of starting a new wave in selling of the currency couple. On the 4 hour chart we can see that the formed triangle was penetrated downwards. Signals remain descending for now, with objectives towards the region of 97.20. The CCI indicator just crossed up the 100 line on the 1 hour chart, suggesting potential increasing spring with testing of the resistance at 98.45.
Technical resistance levels: 99.70 100.80 102.00
Technical support levels: 98.55 97.25 95.95
Trading range: 98.50 - 97.85
Sell at 98.38 SL 98.68 TP 97.98
Already made +42 pips profit on USD/JPY today from the following signal:
5:43 GMT+1 Sell USD/JPY at 98.45 SL 98.71 TP 97.95 exited at 7:38 GMT.
Total today +158, yesterday +144, as shown at www.zifx.com/performance.php