USD/JPY 89.81 - 5 February

USD/JPY Open 89.43 High 89.90 Low 88.86 Close 89.40

Dollar/Yen made indecisive movement yesterday, forming dodgy of the daily chart. The basic bearish scenario remains intact, but we have a triangular formation of the four hour chart, which indicates consolidation phase. Break out of the triangle will give us a clear movement direction. Signals remain neutral for now. Short term resistance is represented by the 89.95 level. The first support level is 88.85. The CCI indicator in neutral area on the daily chart.

Technical resistance levels: 89.95 92.55 93.80

Technical support levels: 88.85 86.85 85.85

Trading range: 89.95 - 89.30

Trend: Downward

Sell at 89.81 SL 90.11 TP 89.41

Already made +8 pips profit on USD/JPY today from the following signal:

5:53 GMT Sell USD/JPY at 89.30 SL 89.56 TP 88.80 exited at 5:55 GMT.

Total today +168, yesterday +162, as shown at