USD/JPY 98.42 - 6 May

USD/JPY Open 98.92 High 99.16 Low 98.02 Close 98.84

The formed diversion gave us a valid warning of downward reverse scenario. The couple had an increasing momentum to the top 99.16 and closed yesterday at 98.84. Signals remain downward with targets towards the key support 98.02. The CCI indicator, is the overbought zone and downwards on the 1 hour chart, additionally suggesting possible downward pressure with posible testing of the next support 97.05 in the following days. Immediate resistance is yesterday's top 99.15. Break above this level may cause further bullish impetus towards 100.30.

Technical resistance levels: 99.15 100.30 101.50

Technical support levels: 98.00 97.05 96.00

Trading range: 98.55 - 97.90

Trend: Downward

Sell at 98.42 SL 98.72 TP 98.02

Already made +17 pips profit on USD/JPY today from the following signal:

5:43 GMT+1 Sell USD/JPY at 98.12 SL 98.38 TP 97.62 exited at 7:12 GMT.

Total today +164, yesterday +146, as shown at www.zifx.com/performance.php