USD/JPY 82.00 - 5 January 2011
On Tuesday Dollar/Yen continued continued increasing insignificantly with nearly 70 pips, not matching the negative Interbank sentiment at around -45%. The currency couple appreciated from 81.60 to 82.28 yesterday, closing the day at 82.02. This trading is quiet and without clear direction for now. On the 1 hour chart the downward channel was broken upwards, while on the 3 hour chart trading is still within wide range. Break above yesterday's top and nearest resistance 82.28 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 81.60, and consistent break bellow it could strengthen the Yen further down towards next target 80.81. There are no major economic events for Japan today. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is neutral and calm, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 82.28 83.10 84.00
Technical support levels: 81.60 80.81 80.00
Buy at 82.00 SL 81.70 TP 82.40
Already made +12 pips profit on USD/JPY today from the following signal:
5:28 GMT Buy USD/JPY at 81.97 SL 81.71 TP 82.47, exit sent at 7:09 GMT.
Total today +157, yesterday +124, as shown in details at http://www.zifx.com/performance.php.