Dollar/Yen continued the upward movement yesterday. After the break of the 98.70 level, the currency couple reached a peak at 99.46 and closed at 99.16, and now seems to be in a consolidation phase. Signals are neutral for now, but in the medium term are still rising. First support is the ex resistance level at 98.05. Immediate resistance is represented by the 99.70 level. Break above this level could lead to increasing momentum towards the region of 100.60. The CCI indicator is about to cross down the 100 line on the 4 hour chart, suggesting potential descending pressure.
Technical resistance levels: 99.70 100.60 101.90
Technical support levels: 98.05 97.60 96.95
Trading range: 99.20 - 99.85
Buy at 99.33 SL 99.03 TP 99.73
Already made +41 pips profit on USD/JPY today from the following signal:
5:45 GMT Buy USD/JPY at 99.25 SL 98.99 TP 99.75 exited at 7:17 GMT.
Total today +131, yesterday +130, as shown at www.zifx.com/performance.php