USD/JPY 81.66 - 29 March 2011
USD/JPY Open 81.76 High 81.89 Low 81.28 Close 81.68
On Monday Dollar/Yen continued increasing insignificantly with 55 pips, not matching the very negative Interbank sentiment at bellow -76%. The currency couple appreciated from 81.28 to 81.85 yesterday, closing the day at 81.68. This morning the Dollar strengthened further against the Yen, reaching up to 81.89. On the 1 hour chart trading is within a range, while on the 3 hour chart wide range trading has also formed. Break above yesterday's top and nearest resistance 81.89 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 81.28, and consistent break bellow it could strengthen the Yen further down towards next target 80.42. Today is Japan Industrial output at 23:50 GMT. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and climbing, MACD is positive and inclining upwards too, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 81.89 82.72 83.58
Technical support levels: 81.28 80.42 79.57
Trading range: 81.60 - 82.25
Buy at 81.73 SL 81.43 TP 82.13
Already made +5 pips profit on USD/JPY today from the following signal:
5:33 GMT Buy USD/JPY at 81.70 SL 81.44 TP 82.20, exit sent at 8:20 GMT.
Total today +62, yesterday +120, as shown in details at http://www.zifx.com/performance.php.