USD/JPY 84.16 - 5 April 2011

USD/JPY Open 84.13 High 84.48 Low 83.85 Close 84.03

On Monday Dollar/Yen decreasing insignificantly with 55 pips, because of economic data lack, matching the very negative Interbank sentiment at almost -44%. The currency couple depreciated from 84.39 to 83.85 yesterday, closing the day at 84.03. This morning the Dollar began strengthening, climbing up to 84.48 against the Yen. 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 today's top and nearest resistance 84.48 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 83.85, and consistent break bellow it could strengthen the Yen further down towards next target 83.00. There are no major economic events for Japan today. Quotes are moving just above the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is positive and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 84.48 85.36 86.20
Technical support levels: 83.85 83.00 82.05

Trading range: 84.05 - 84.70
Trend: Upward
Buy at 84.16 SL 83.86 TP 84.56

Already made +6 pips profit on USD/JPY today from the following signal:
5:31 GMT+1 Buy USD/JPY at 84.33 SL 84.07 TP 84.83, exit sent at 7:08 GMT+1.
Total today +127, yesterday +86, as shown in details at