USD/JPY 83.95 - 4 April 2011

USD/JPY Open 84.21 High 84.74 Low 83.27 Close 84.01

On Friday Dollar/Yen continued increasing significantly with almost 150 pips, as radiation crises in Japan continues, not matching the very negative Interbank sentiment at bellow -58%. The currency couple appreciated from 83.27 to 84.74 on Friday, closing the week at 84.01. This morning the Dollar is trading quietly for now, and within Friday's range. On the 1 hour chart new upward channel has emerged, while on the 3 hour chart quotes have broken up of the wide range. Break above Friday's top and nearest resistance 84.74 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 83.27, and consistent break bellow it could strengthen the Yen further down towards next target 82.46. There are no major economic events for Japan today. 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 negative and declining, MACD is negative and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 84.74 85.62 86.47
Technical support levels: 83.27 82.46 81.62

Trading range: 83.85 - 84.45
Trend: Upward
Buy at 83.95 SL 83.65 TP 84.35

Already made +1 pips profit on USD/JPY today from the following signal:
5:30 GMT+1 Buy USD/JPY at 84.19 SL 83.93 TP 84.69, exit sent at 5:34 GMT+1.
Total today +86, on Friday +95, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com