USD/JPY 81.20 - 21 March 2011

USD/JPY Open 80.93 High 82.00 Low 79.14 Close 80.54 On Friday Dollar/Yen recovered strongly with 85 pips, than corrected downwards, not matching the negative Interbank sentiment at bellow -65%. The currency couple appreciated from 79.14 to 82.00 on Friday, closing the week at 80.54. This morning the Dollar is slightly stronger against the Yen, but movements are within Friday's range for now. On the 1 hour chart the downward channel was broken upwards, while on the 3 hour chart wide range trading has formed. Break above Friday's top and nearest resistance 82.00 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 79.14, and consistent break bellow it could strengthen the Yen further down towards next target 78.23. Today is Japan Spring Equinox Day. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is thinly positive and tranquil too, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 82.00 82.84 83.67
Technical support levels: 79.14 78.23 77.40
Trading range: 81.10 - 81.70
Trend: Upward
Buy at 81.20 SL 80.90 TP 81.60
 Already made +11 pips profit on USD/JPY today from the following signal:
6:31 GMT Sell USD/JPY at 80.95 SL 81.21 TP 80.45, exit sent at 6:53 GMT.
Total today +102, on Friday +135, as shown in details at http://www.zifx.com/performance.php.

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