Dollar/Yen trades within the 96.96 - 97.98 range so far this week, closing yesterday at 97.45. Earlier this morning the currency couple climbed to 97.98, which is 48.8% Fibonacci level of the above top. On Friday USD/JPY hit the long target 98.26, reached a peak at 98.67 and closed at 97.54. Currently the signals remain ascending in the medium term, with targets towards the resistance 100.00, and neutral in the short term. The CCI indicator crossed down the 100 line on the 1 hour chart, suggesting a potential descending pressure with testing of the support level 96.90.
Technical resistance levels: 98.00 98.80 100.00
Technical support levels: 96.90 95.80 94.20
Trading range: 97.45 - 98.05
Buy at 97.55 SL 97.25 TP 97.95
Already made +29 pips profit on USD/JPY today from the following signal:
5:48 GMT Buy USD/JPY at 97.45 SL 97.19 TP 97.95 exited at 7:04 GMT.
Total today +157, yesterday +153, as shown at www.zifx.com/performance.php