Dollar/Yen corrected upwards yesterday. The currency couple made a bottom at 95.07, from where it rose to 95.88, and continues to ascend today. The upward adjustment should be considered as normal, as long as the trend line holds as a resistance. Immediate support is represented by the 94.90. Break bellow this area may trigger further downwards pressure with possible testing of 93.75. The nearest resistance is 96.65. Break above that level may lead to correction deepening. The CCI indicator is in the neutral zone of the 1 and 4 hour charts, suggesting calm intraday trading.
Technical resistance levels: 96.65 97.85 99.00
Technical support levels: 94.90 93.75 92.45
Trading range: 96.15 - 96.80
Buy at 96.29 SL 95.99 TP 96.69
Already made +33 pips profit on USD/JPY today from the following signal:
5:47 GMT+1 Buy USD/JPY at 96.21 SL 95.95 TP 96.71 exited at 8:27 GMT.
Total today +158, yesterday +175, as shown at www.zifx.com/performance.php