Dollar/Yen could not continue the upward correction on Friday. The currency couple attempted to rise, reaching the 97.17 top, but further upward movement was limited, followed by a sharp drop down to 96.00, closing the week at 96.23. In the short term, the longer the USD/JPY remains under the resistance level 97.15, further decreasing impulse may be expected, with testing of the trend line support on the 1 hour chart. Break under the trend line may trigger further decreasing impetus toward 93.45. Immediate support is 95.60. The CCI indicator is in the neutral zone on 1 and 4 hour chart.
Technical resistance levels: 97.15 98.25 99.50
Technical support levels: 95.60 94.50 93.45
Trading range: 96.25 - 95.60
Buy at 96.11 SL 96.41 TP 95.71
Already made +14 pips profit on USD/JPY today from the following signal:
5:45 GMT+1 Sell USD/JPY at 96.08 SL 96.34 TP 95.58 exited at 6:49 GMT.
Total today +174, on Friday +169, as shown at www.zifx.com/performance.php