USD/JPY 81.13 - 4 May 2011

USD/JPY Open 80.97 High 81.27 Low 80.68 Close 80.92

On Tuesday Dollar/Yen continued decreasing with 60 pips, matching the negative Interbank sentiment at bellow -77%. The currency couple depreciated first from 81.27 to 80.68 yesterday, closing the day at 80.92. This morning the Dollar is trading quietly against the Yen, and within yesterday's range for the time being. On the 1 hour chart the downward channel has renewed, while on the 3 hour chart trading is still within wide range. Break above yesterday's top and nearest resistance 81.27 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 80.68, and consistent break bellow it could strengthen the Yen further down towards next target 79.80. Today is Japan Greenery Day. Quotes are moving just above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term slim bullish and medium term bearish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is negative and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall neutral to light long signals.
Technical resistance levels: 81.27 82.10 83.00
Technical support levels: 80.68 79.80 79.00

Trading range: 81.25 - 80.60
Trend: Downward
Sell at 81.13 SL 81.43 TP 80.73

Already made +12 pips profit on USD/JPY today from the following signal:
5:28 GMT+1 Sell USD/JPY at 80.95 SL 81.21 TP 80.45, exit sent at 6:33 GMT+1.
Total today +112, yesterday +137, as shown in details at http://www.zifx.com/performance.php.

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