USD/JPY 82.86 - 27 December 2010

USD/JPY Open 82.89 High 83.17 Low 82.75 Close 82.85

On Friday Dollar/Yen continued decreasing insignificantly with just over 30 pips, matching the negative Interbank sentiment at around -34%. The currency couple depreciated from 83.17 to 82.85 on Friday, closing the week at 82.85. Today Yen strengthened further, weakening the Dollar down to 82.75. On the 1 hour chart trading is within wide range, while on the 3 hour chart the upward channel is on hold. Break above Friday's top and nearest resistance 83.17 would encourage further recovery of the Dollar. Immediate support is today's bottom at 82.75, and consistent break bellow it could strengthen the Yen further down towards next target 82.00. Today are Japan Housing starts, Construction orders, Nationwide and Tokyo-area CPI, Unemployment, Household spending, Retail sales and Industrial output, at 5, 23:30 and 23:50 GMT respectively. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is neutral and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 83.17 84.30 85.44
Technical support levels: 82.75 82.00 81.14

Trading range: 83.00 - 82.35
Trend: Downward
Sell at 82.86 SL 83.16 TP 82.46

Already made +19 pips profit on USD/JPY today from the following signal:
5:37 GMT Sell USD/JPY at 82.84 SL 83.10 TP 82.34, exit sent at 7:08 GMT.
Total today +66, last Thursday +128, as shown in details at