USD/JPY 83.08 - 30 March 2011

USD/JPY Open 82.41 High 83.18 Low 81.53 Close 82.46

On Tuesday Dollar/Yen continued increasing significantly with almost 100 pips, not matching the very negative Interbank sentiment at bellow -73%. The currency couple appreciated from 81.53 to 82.49 yesterday, closing the day at 82.46. This morning the Dollar strengthened further against the Yen, reaching up to 83.18. On the 1 hour chart trading is at the upper side of the range, while on the 3 hour chart the wide range trading remains. Break above today's top and nearest resistance 83.18 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 81.53, and consistent break bellow it could strengthen the Yen further down towards next target 80.70. Today is Japan Unemployment at 23:30 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 calm, MACD is positive and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 83.18 84.00 84.83
Technical support levels: 81.53 80.70 79.57

Trading range: 82.95 - 83.60
Trend: Upward
Buy at 83.08 SL 82.78 TP 83.48

Already made +23 pips profit on USD/JPY today from the following signal:
5:32 GMT Buy USD/JPY at 82.91 SL 82.65 TP 83.41, exit sent at 8:24 GMT.
Total today +106, yesterday +62, as shown in details at