In December, the Dollar/Yen continued declining, overcoming the minimum from October and reaching the lowest levels since 1995 under 90.00. Last week the currency couple made a correction and managed to hold above 91.00. On the weekly chart descending pressure continues to remain strong, while the pair is under 94.80. On the daily chart the descending pressure dropped, but the overall downward trend remains strong. The inability of the currency couple to overcome the support level at 87.10 spoke in favor of correctional growth. Strengthening under 90.80 would give signals for further reduction. Current alerts are upward with targets in the region of 93.50 and 94.00. Retention above 93.10 may provoke growth of the USD/JPY towards the region of 95.00.
Technical resistance levels: 90.90 91.95 93.00
Technical support levels: 89.80 88.25 87.15
Trading range: 92.85 - 93.50
Buy at 92.96 SL 92.66 TP 93.36
Already made +21 pips profit on USD/JPY today from the following signal:
5:47 GMT Sell USD/JPY at 92.00 SL 92.26 TP 91.50 exited at 7:10 GMT.
Total today +114, on 30th +147, as shown at www.zifx.com/performance.php