USD/JPY 94.76 - 28 July

USD/JPY Open 95.14 High 95.36 Low 94.50 Close 95.16

On Monday Dollar/Yen made a moderate ascending movement up to the 95.35 top, where the bullish momentum was limited, and the currency couple traded quitely, closing the day at 95.16. The currency couple managed to stay above the important 94.50 level for the last several days, which, however was tested today. Signals are downward in the short term, and neutral in the medium term. On the 1 hour chart there is a formed descending wedge, indicating a potential downward scenario, especially if quotes break the above support level. Break above yesterday's top and first resistance level 95.35 may trigger further increasing impulse for the USD/JPY towards 96.20. The CCI indicator has crossed down the 100 line on the 1 hour chart, suggesting bearish perspectives.

Technical resistance levels: 95.35 96.20 97.40

Technical support levels: 94.25 93.15 92.10

Trading range: 94.90 - 94.25

Trend: Downward

Sell at 94.76 SL 95.06 TP 94.36

Already made +7 pips profit on USD/JPY today from the following signal:

5:40 GMT+1 Buy USD/JPY at 95.10 SL 94.84 TP 95.60 exited at 6:43 GMT.

Total today +158, yesterday +92, as shown at