USD/JPY 92.46 - 29 March 2010

USD/JPY Open 92.43 High 92.93 Low 91.76 Close 92.47

Dollar/Yen traded hesitantly on Friday, in converse with the very negative bank sentiment at around -76%. The currency couple traded within 55 pips range on Friday, closing the week at 92.47. Today Dollar dropped down to 92.20 against the Yen, than recovered up to 92.78. Break above the 92.78 resistance would confirm the bullish outlook for now. The medium term may also turn from neutral to bullish if we see further advancing of the Dollar. Immediate support is last Thursday's bottom at 91.75, and only consistent break bellow it would give the Yen partial recovery. Today's focus is Japan's Unemployment, Household spending and Industrial output at 23:30 and 23:50 GMT respectively. Quotes are currently moving in line with the 20 and above the 50 EMA on the 1 hour chart, indicating neutral market. The RSI indicator is positive and calm, MACD is neutral and calm, while CCI has crossed down the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 92.78 94.00 94.80
Technical support levels: 91.75 90.40 89.61

Already made +9 pips profit on USD/JPY today from the following signal:
5:49 GMT+1 Buy USD/JPY at 92.60 SL 92.34 TP 93.10 exit at 6:51 GMT.
Total today +167, on Friday +96, as shown in details at www.zifx.com/performance.php.

/