Dollar/Yen showed a downward momentum on Tuesday, reached a bottom at 93.35, and closed the day at 93.73. The 94.35 level is a key resistance at this time, the break of which may reverse the current downward short term signals into upward. Our preferable scenario for now is still bearish, but a consistent movement under today's bottom and nearest support 93.25 is needed to trigger further potential descending impulse towards next target 92.10. The CCI indicator is in the neutral zone on the 1 and 4 hour charts, suggesting calm trading in the short term.
Technical resistance levels: 94.80 96.00 97.10
Technical support levels: 93.25 92.10 91.45
Trading range: 93.70 - 93.05
Sell at 93.57 SL 93.87 TP 93.17
Already made +15 pips profit on USD/JPY today from the following signal:
5:38 GMT+1 Sell USD/JPY at 93.70 SL 93.96 TP 93.20 exited at 7:02 GMT.
Total today +132, yesterday +104, as shown at www.zifx.com/performance.php