USD/JPY 90.72 - 22 June 2010

USD/JPY Open 91.04 High 91.47 Low 90.23 Close 91.02

On Monday Dollar/Yen corrected sharply upwards, as expected, in converse with the Interbank sentiment at nearly -63%. The currency couple appreciated from 90.47 to 91.47 yesterday, closing the day at 91.02. Today trading started with down trend renewal effort, but without strong impulse for now. On the 1 hour chart the pair broke down the trade range yesterday, while on the 3 hour chart it is still in a consolidation phase. Break above yesterday's top and nearest resistance 91.47 would support further recovery of the Dollar. Immediate support is yesterday's bottom at 90.23, and consistent break bellow it could strengthen the Yen further towards next target 89.30. There are no major economic events for Japan today. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.Technical resistance levels: 91.47 92.29 93.44Technical support levels: 90.23 89.30 88.49

Trading range: 90.85 - 90.20Trend: DownwardSell at 90.72 SL 91.02 TP 90.32

Already made +22 pips profit on USD/JPY today from the following signal:5:35 GMT+1 Sell USD/JPY at 90.96 SL 91.22 TP 90.46 exit at 7:30 GMT+1.Total today +102, yesterday +148, as shown in details at