USD/JPY 89.60 - 3 February

USD/JPY Open 89.37 High 90.07 Low 88.81 Close 89.46

On Monday Dollar/Yen did not made any significant movement. The currency couple made a decreasing attempt, reaching a bottom at 88.81, and closing slightly higher at 89.46. On the 1 hour chart we have a formed symmetrical triangular formation, which suggests consolidation phase for the USD/JPY. Break out of the triangle will give us a clearer movement direction. Short term signals are neutral, but still descending in the long term. The first support level is 88.85. The CCI indicator is in neutral area on the daily chart.

Technical resistance levels: 90.05 91.50 92.80

Technical support levels: 88.85 88.00 87.05

Trading range: 89.70 - 89.10

Trend: Downward

Sell at 89.60 SL 89.90 TP 89.20

Already made +14 pips profit on USD/JPY today from the following signal:

5:48 GMT Sell USD/JPY at 89.49 SL 89.75 TP 88.99 exited at 5:52 GMT.

Total today +107, yesterday +160, as shown at