USD/JPY 92.24 - 6 January 2010

USD/JPY Open 91.56 High 92.70 Low 91.31 Close 91.70

Dollar/Yen continued moving downwards on Tuesday from the 92.49 point, reaching a bottom at 91.31, and closing the day at 91.70. This morning, however, Dollar started correcting upwards against the Yen, which should not come as a surprise after the deep drop from the beginning of the week. Our preferable scenario for today is to follow the currency couple upwards, with targets towards the nearest resistance and top from Monday 92.70. Only consistent movement bellow 91.90 may bring threat to the short term ascending perspective and trigger further downward impulse with possible renewal of the downward trend. The CCI indicator is positive on the 1 hour chart, suggesting bullish pressure.
Technical resistance levels: 92.70 93.58 94.45
Technical support levels: 91.31 90.49 89.64

Already made +16 pips profit on USD/JPY today from the following signal:
5:32 Sell USD/JPY at 92.11 SL 92.37 TP 91.61 exited at 6:20 GMT.
Total today +117, yesterday +151, as shown in details at