USD/JPY 82.04 - 27 April 2011
USD/JPY Open 81.45 High 82.13 Low 81.25 Close 81.52
On Tuesday Dollar/Yen resumed decreasing with 70 pips, matching the negative Interbank sentiment at bellow -54%. The currency couple depreciated from 81.98 to 81.25 yesterday, closing the day at 81.52. This morning the Dollar strengthened against the Yen, climbing up to 82.13. On the 1 hour chart the downward channel looks good, while on the 3 hour chart trading is still within wide range. Break above today's top and nearest resistance 82.13 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 81.25, and consistent break bellow it could strengthen the Yen further down towards next target 80.36. Today are Japan Nationwide and Tokyo-area CPI, Unemployment, Household spending and Industrial output, at 23:30 and 23:50 GMT respectively. Quotes have stretched above the 20 and 50 EMA on the 1 hour chart, indicating bullish impulse. The value of the RSI indicator is positive and rising, MACD is neutral and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 82.13 83.00 83.87
Technical support levels: 81.25 80.36 79.50
Trading range: 81.90 - 82.55
Buy at 82.04 SL 81.74 TP 82.44
Already made +18 pips profit on USD/JPY today from the following signal:
7:16 GMT+1 Buy USD/JPY at 81.73 SL 81.47 TP 82.23, exit sent at 7:44 GMT+1.
Total today +71, yesterday +165, as shown in details at http://www.zifx.com/performance.php.