In April Dollar/Yen failed to develop growth, and the risk of another reduction wave remains high. Last week the currency couple continued its slump and closed the week at 97.19. On the weekly chart USD/JPY closed last week with reduction, forming convergence, and withholding under 99.00. This carries a risk of a new wave of sales. On the daily chart a divergence is formed, which also creates the preconditions for a decline. Strengthening under the 96.45 support will signal for further reduction. Going up above 98.50 may provoke growth.
Technical resistance levels: 97.85 98.50 99.60
Technical support levels: 96.45 95.60 94.35
Already made +14 pips profit on USD/JPY today from the following signal:
5:47 GMT+1 Sell USD/JPY at 96.68 SL 96.94 TP 96.18 exited at 7:40 GMT.
Total today +151, on Friday +171, as shown at www.zifx.com/performance.php