USD/JPY 97.83 - 25 March

USD/JPY Open 98.31 High 98.51 Low 96.66 Close 97.89

The Yen was supported by the decline in the financial markets yesterday. On the 4 hour chart candles with falling peaks are noticed, indicating weakness. Currently the price is over the average sliding key MA30, which holds the continuation of the downward trend. Everything will depend on what news coming from the Federal Reserve and how investors will take it. Short term support is 96.65, followed by 95.45. Immediate resistance is 98.55, followed by 99.40.

Technical resistance levels: 98.55 99.40 100.35

Technical support levels: 96.65 95.45 94.55

Trading range: 97.95 - 97.30

Trend: Downward

Sell at 97.83 SL 98.13 TP 97.43

Already made +28 pips profit on USD/JPY today from the following signal:

5:45 GMT Sell USD/JPY at 97.63 SL 97.89 TP 97.13 exited at 6:37 GMT.

Total today +117, yesterday +103, as shown at www.zifx.com/performance.php