USD/JPY 92.43 - 30 March 2010
Dollar/Yen traded hesitantly on Monday, in converse with the very negative bank sentiment at around -74%. The currency couple trades within the 92.13-78 range this week, closing on Monday at 92.45. 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 at this stage. The medium term may also turn from neutral to bullish if we see further advancing of the Dollar. Immediate support is yesterday's bottom at 92.13, and only consistent break bellow it may give the Yen some recovery. There are no major economic events for Japan today. Quotes are currently moving in line with the 20 and 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 up the 100 line on the 1 hour chart, giving overall neutral to slightly long signals.
Technical resistance levels: 92.78 94.00 94.80
Technical support levels: 92.13 91.76 90.40
Already made +40 pips profit on USD/JPY today from the following signal:
5:32 GMT+1 Buy USD/JPY at 92.28 SL 92.02 TP 92.78 exit at 7:41 GMT.
Total today +188, yesterday +167, as shown in details at www.zifx.com/performance.php.