USD/JPY 93.91 - 26 August 2009

USD/JPY Open 94.19 High 94.49 Low 93.84 Close 94.17

Dollar/Yen made a descending effort on Tuesday, reaching a bottom at 93.78, closing the day at 94.17. Of the 1 hour chart after breaking up of the bearish triangle, the currency couple is now in a consolidation phase, with expectations for upward bounce with possible test of 95.50. Break of the nearest support at 93.85 may lead to continuation of the downward trend. The CCI indicator has crossed up the 100 line on the 1 hour chart, suggesting upward pressure.

Technical resistance levels: 94.50 95.50 96.35

Technical support levels: 93.85 92.90 92.00

Trading range: 93.80 - 93.45

Trend: Upward

Buy at 93.91 SL 93.61 TP 94.31

Already made +12 pips profit on USD/JPY today from the following signal:

5:36 GMT+1 Buy USD/JPY at 94.17 SL 93.91 TP 94.67 exited at 6:46 GMT.

Total today +60, yesterday +170, as shown at www.zifx.com/performance.php