USD/JPY 81.76 - 28 April 2011

USD/JPY Open 82.19 High 82.85 Low 81.30 Close 82.13

On Wednesday Dollar/Yen increased with over 150 pips, not matching the negative Interbank sentiment at bellow -55%. The currency couple appreciated from 81.30 to 82.85 yesterday, closing the day at 82.13. This morning the Dollar weakened against the Yen, but it's moving within yesterday's range for now. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart trading is still within wide range. Break above yesterday's top and nearest resistance 82.85 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 81.30, and consistent break bellow it could strengthen the Yen further down towards next target 80.36. Today are Japan BoJ meeting announcement, Housing starts and Construction orders, at 3:30 and 5 GMT respectively. Quotes are moving lust bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish impulse. The value of the RSI indicator is negative and inclining upwards, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 82.85 83.71 84.78
Technical support levels: 81.30 80.36 79.50

Trading range: 81.90 - 81.25
Trend: Downward
Sell at 81.76 SL 82.06 TP 81.36

Already made +31 pips profit on USD/JPY today from the following signal:
5:29 GMT+1 Sell USD/JPY at 81.78 SL 82.04 TP 81.28, exit sent at 9:36 GMT+1.
Total today +97, yesterday +71, as shown in details at http://www.zifx.com/performance.php.

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