On Monday Dollar/Yen sharply decreased after initial bullish start of the week, in line with the very negative Interbank sentiment at around -78%. The currency couple depreciated from 85.90 to 84.48 yesterday, closing the day at 84.62. Today the bears pushed quotes further down to 84.12. On the 1 hour the trading is back within wide range, and on the 3 hour chart the downward channel is making renewal efforts. Break above yesterday's top and nearest resistance 85.90 would support further recovery of the Dollar. Immediate support is today's bottom at 84.12, and consistent break bellow it could strengthen the Yen further down towards next target 83.00. Today Japan Housing starts, Construction orders, and BoJ meeting minutes, at 5 and 23:50 GMT respectively. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is negative and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall mixed signals.Technical resistance levels: 85.90 86.67 87.72Technical support levels: 84.12 83.00 82.52
Trading range: 84.15 - 84.80Trend: UpwardBuy at 84.28 SL 83.98 TP 84.68
Already made +20 pips profit on USD/JPY today from the following signal:5:43 GMT+1 Sell USD/JPY at 84.25 SL 84.51 TP 83.75 exit sent at 7:44 GMT+1.Total today +143, yesterday +96, as shown in details at http://www.zifx.com/performance.php.