Yesterday Dollar/Yen made tentatively movement, forming divergence on the daily chart. The currency couple traded downwards after failing to break up 98.44, which is 38.3% Fibonacci correction of the rise from 93.60 to 101.35. At the 1 hour chart the descending triangle was penetrated downwards. Transition under the key support level 96.50, which is the lower limit of the triangle, may lead to downward impulse towards next target 95.60. Immediate resistance is represented by the 98.45 level. The CCI indicator is in the neutral zone on the 1 and 4 hour charts.
Technical resistance levels: 98.45 99.60 100.80
Technical support levels: 96.50 95.60 94.35
Trading range: 97.25 - 96.60
Sell at 97.12 SL 97.42 TP 96.72
Already made +22 pips profit on USD/JPY today from the following signal:
5:46 GMT+1 Sell USD/JPY at 97.10 SL 97.36 TP 96.60 exited at 6:41 GMT.
Total today +171, yesterday +106, as shown at www.zifx.com/performance.php