USD/JPY 90.68 - 24 September 2009
Dollar/Yen failed to continue its bearish momentum yesterday, climbed up to the 91.60 top, closing the day at 91.30. Because of the current trading range within which the currency pair is moving, as seen on the 3 hour chart, we would suggest 2 optional trading scenarios. The first is range trading, with sell around 92.60 and buy about 90.35. The second scenario is trading at a market break, with buy of break up of 92.55, and sell with break down of 90.20. The nearest resistance is yesterday's top 91.60. Break above this level may trigger further bullish impulse towards 92.55. We expect the main trend to remain bearish. The CCI indicator is negative on the 1 hour chart, suggesting downward pressure.
Technical resistance levels: 91.60 92.55 93.65
Technical support levels: 90.35 90.20 89.10
Already made +50 pips profit on USD/JPY today from the following signal:
5:35 GMT+1 Sell USD/JPY at 90.99 SL 91.25 TP 90.49 TP reached at 8:05 GMT.
Total today +115, yesterday +93, as shown at www.zifx.com/performance.php
Sell at 90.68 SL 90.98 TP 90.28