On a daily chart Dollar/Yen formed symmetrical triangle with potential for descending movement. The currency couple rate reached 50% Fibonacci correction and began losing its strength. Immediate current and previous support is represented by the 88.40 level, followed by 86.70. The decline of stock markets will add further strength to the Yen, and dismemberment towards 86.50, even marginal, are not excluded. Short term resistance levels are 90.60, followed by 92.10.
Technical resistance levels: 90.60 92.10 93.50
Technical support levels: 88.40 86.70 85.45
Trading range: 90.05 - 89.40
Sell at 89.94 SL 90.24 TP 89.54
Already made +23 pips profit on USD/JPY today from the following signal:
5:50 GMT Sell USD/JPY at 89.93 SL 90.19 TP 89.43 exited at 6:58 GMT.
Total today +178, yesterday +185, as shown at www.zifx.com/performance.php