USD/JPY 82.85 - 31 March 2011
USD/JPY Open 83.15 High 83.21 Low 82.38 Close 82.66
On Tuesday Dollar/Yen continued increasing insignificantly with almost 80 pips, not matching the very negative Interbank sentiment at nearly -58%. The currency couple appreciated from 82.38 to 83.19 yesterday, closing the day at 82.66. This morning the Dollar strengthened further against the Yen, reaching up to 83.21, than started adjusting downwards. 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 for now. Break above today's top and nearest resistance 83.21 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 82.38, and consistent break bellow it could strengthen the Yen further down towards next target 81.53. Today are Japan Housing starts, Construction orders, and BoJ Tankan survey, at 5 and 23:50 GMT respectively. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term bullish pressure. The value of the RSI indicator is thinly negative and calm, MACD is negative and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 83.21 84.00 84.83
Technical support levels: 82.38 81.53 80.70
Trading range: 82.95 - 82.35
Sell at 82.85 SL 83.15 TP 82.45
Already made +6 pips profit on USD/JPY today from the following signal:
5:30 GMT+1 Sell USD/JPY at 82.65 SL 82.91 TP 82.15, exit sent at 7:20 GMT+1.
Total today +133, yesterday +106, as shown in details http://www.zifx.com/performance.php.