USD/JPY 94.06 - 28 August 2009
USD/JPY Open 93.54 High 94.27 Low 93.23 Close 93.51

On Thursday Dollar/yen made a bearish movement, from the 94.27 top to the 93.21 bottom, closing the day at 93.51. On the 3 hour chart the bullish channel was broken downwards, indicating that the bullish impulse has ran out of steam and traffic is turned downwards towards 93.20. This morning the CCI indicator had crossed up the 100 line on the 1 hour chart, suggesting possible upward impulse with test of the the 94.00 resistance. However the upward impulse seems to have lost its strength, and our preferable scenario for the moment is for downward correction.

Technical resistance levels: 94.50 95.50 96.35

Technical support levels: 93.20 92.00 90.90

Trading range: 94.20 - 93.55

Trend: Downward

Sell at 94.06 SL 94.36 TP 93.66

Already made +15 pips profit on USD/JPY today from the following signal:

7:47 GMT+1 Sell USD/JPY at 93.97 SL 94.23 TP 93.47 at 8:13 GMT.

Total today +138, yesterday +110, as shown at www.zifx.com/performance.php

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