USD/JPY 89.45 - 28 June 2010

USD/JPY Open 89.37 High 89.74 Low 89.23 Close 89.17

On Friday Dollar/Yen traded hesitantly and with a slight decrease, not matching exactly the strong negative Interbank sentiment at around -65%. The currency couple depreciated from 89.97 to 89.28 on Friday, closing the week at 89.17. Today trading is hesitant and consolidating so far. On the 1 hour chart the downward channel is on hold, while on the 3 hour chart the pair is testing lower limit of the wide trading range. Break above Friday's top and nearest resistance 89.74 would support further recovery of the Dollar. Immediate support is Friday's bottom at 89.23, and consistent break bellow it could strengthen the Yen further towards next target 88.41. Today are Japan Unemployment, Household spending, and Industrial output at 23:30 GMT. Quotes are moving in line with the the 20 and bellow the 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is positive and declining, MACD is negative and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.Technical resistance levels: 89.74 90.71 91.55Technical support levels: 89.23 88.41 87.29

Trading range: 89.55 - 88.95Trend: DownwardSell at 89.45 SL 89.75 TP 89.05

Already made +11 pips profit on USD/JPY today from the following signal:5:50 GMT+1 Sell USD/JPY at 89.45 SL 89.71 TP 88.95 exit at 7:59 GMT+1.Total today +94, on Friday +92, as shown in details at