USD/JPY 93.76 - 27 August 2009
USD/JPY Open 94.22 High 94.49 Low 93.39 Close 94.25

On Wednesday Dollar/Yen made an indecisive movement, forming diversion on the 4 hour chart. On the 1 hour chart bullish channel is shaken and may turn into bearish, as bulls attacks are missing lately. Signals are expected to be bearish in the short term, and if the downward pressure continues, and we see convincing break below today's bottom and first support 93.40, the bullish channel may really reverse. The nearest resistance is yesterday's top 94.50, followed by 95.50. The CCI indicator is neutral on the 1 hour chart, suggesting calm trading.

Technical resistance levels: 94.50 95.50 96.35

Technical support levels: 93.40 92.30 92.00

Trading range: 93.90 - 93.25

Trend: Downward

Sell at 93.76 SL 94.06 TP 93.36

Already made +36 pips profit on USD/JPY today from the following signal:

5:39 GMT+1 Sell USD/JPY at 93.73 SL 93.99 TP 93.23 at 7:51 GMT.

Total today +110, yesterday +60, as shown at www.zifx.com/performance.php

/