USD/JPY 94.76 - 24 August 2009

USD/JPY Open 94.49 High 95.06 Low 93.47 Close 94.35

On Friday Dollar/Yen made a decreasing effort, reaching a bottom at 93.47, but a further bearish scenario was limited there and the currency couple rose to the 94.64 top, closing the week at 94.35. On the 1 hour chart the downward channel was broken upwards, signaling for potential bullish perspectives. Signals are bullish in the short term, with targets towards 95.05, followed by 96.10. Immediate support is 94.20. The CCI indicator has crossed up the 100 line on the 1 hour hour chart, indicating possible bullish view.

Technical resistance levels: 95.05 96.10 97.35

Technical support levels: 94.20 93.40 92.35

Trading range: 94.65 - 95.30

Trend: Upward

Buy at 94.76 SL 94.46 TP 95.16

Already made +19 pips profit on USD/JPY today from the following signal:

5:39 GMT+1 Buy USD/JPY at 94.78 SL 94.52 TP 95.28 exited at 7:32 GMT.

Total today +129, on Friday +124, as shown at www.zifx.com/performance.php