USD/JPY 87.27 - 27 July 2010

USD/JPY Open 87.00 High 87.71 Low 86.82 Close 86.86

Dollar/Yen started decreasing on Monday, in converse with the negative Interbank sentiment at nearly +5%. The currency couple depreciated from 87.71 to 86.82 yesterday, closing the day at 86.86. Today bull are taking advantage. On the 1 hour chart the downward channel is still on hold, and on the 3 hour chart quotes are trying to return into it. Break above yesterday's top and nearest resistance 87.71 would support further recovery of the Dollar. Immediate support is yesterday's bottom at 86.82, and consistent break bellow it could strengthen the Yen further down towards next target 85.50. There are no major economic events for Japan today. Quotes have crossed up the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and consolidating, MACD is neutral and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall bullish signals.Technical resistance levels: 87.71 88.55 89.40Technical support levels: 86.82 85.50 84.12

Trading range: 87.15 - 87.80Trend: UpwardBuy at 87.27 SL 86.97 TP 87.67

Already made +2 pips profit on USD/JPY today from the following signal:5:33 GMT+1 Sell USD/JPY at 86.95 SL 87.21 TP 86.45 exit sent 7:14 GMT+1.Total today +92, yesterday +158, as shown in details at