Dollar/Yen traded hesitantly on Wednesday, reached a bottom at 93.15, where further bearish movement was stopped, and closed the day higher at 93.62. The currency couple formed divergence on the 1 hour chart and started climbing this morning. Short term signals are rising, but neutral in the medium term. If the nearest resistance at 94.65 is penetrated, we may expect further bullish momentum towards next target 95.75. Immediate support is yesterday's bottom at 93.15. The CCI indicator is in the positive zone of the 1 hour chart, signaling for upward pressure.
Technical resistance levels: 94.65 95.75 97.10
Technical support levels: 93.15 92.10 90.85
Trading range: 94.25 - 94.90
Buy at 94.36 SL 94.06 TP 94.76
Already made +6 pips profit on USD/JPY today from the following signal:
5:41 GMT+1 Sell USD/JPY at 94.20 SL 94.46 TP 93.70 exited at 5:45 GMT.
Total today +89, yesterday +132, as shown at www.zifx.com/performance.php