USD/JPY 94.32 - 21 July

USD/JPY Open 94.11 High 94.78 Low 93.79 Close 94.20

Dollar/Yen tried climbing on Monday, reaching a peak at 94.78, where the bullish momentum was limited and the currency couple started decreasing, closing the day at 94.20. Today the downward movement continued down to the 93.80 support level. If the last is penetrated convincingly, we may see stronger bearish movement with possible test of 92.60. In upward direction immediate resistance is Monday's top at 94.80. Consistent movement above this level may trigger further long prospects towards next objective 96.00. The CCI indicator has just crossed down the 100 line on the 1 hour chart, showing existing descending pressure.

Technical resistance levels: 94.80 96.00 97.10

Technical support levels: 93.80 92.60 91.45

Trading range: 94.45 - 93.80

Trend: Downward

Sell at 94.32 SL 94.62 TP 93.92

Already made +7 pips profit on USD/JPY today from the following signal:

5:43 GMT+1 Sell USD/JPY at 93.92 SL 94.18 TP 93.42 exited at 8:07 GMT.

Total today +104, yesterday +174, as shown at www.zifx.com/performance.php