USD/JPY 81.37 - 3 January 2011
On Friday Dollar/Yen continued decreasing insignificantly with nearly 60 pips, matching the negative Interbank sentiment at around -48%. The currency couple depreciated from 81.55 to 80.93 on Friday, closing the year 2010 at 81.60. This morning Yen is trading hesitantly and without clear direction for now. On the 1 hour chart the downward channel is intact, while on the 3 hour chart trading is still within wide range. Break above Friday's top and nearest resistance 81.55 would encourage further recovery of the Dollar. Immediate support is today's bottom at 80.90, and consistent break bellow it could strengthen the Yen further down towards next target 80.00. Today is a Japan Bank holiday. Quotes are moving above the 20 and just bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term slim bearish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is thinly negative and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 81.55 82.40 83.32
Technical support levels: 80.90 80.00 79.13
Buy at 81.37 SL 81.07 TP 81.77
Already made +10 pips profit on USD/JPY today from the following signal:
7:00 GMT Buy USD/JPY at 81.25 SL 80.99 TP 81.75, exit sent at 7:48 GMT.
Total today +140, last Thursday +102, as shown in details at http://www.zifx.com/performance.php.