USD/JPY 93.95 - 6 May 2010
USD/JPY Open 93.79 High 94.98 Low 94.32 Close 93.86

Dollar/Yen traded with a decrease on Wednesday, in line with the Interbank sentiment at around -17%. Yesterday the currency couple depreciated from 94.98 to 93.57, closing the day at 93.86. Today the currency couple continued dropping down to 93.29. Break above the nearest 94.98 resistance and yesterday's top would support recovery of the Dollar. Immediate support is today's bottom at 93.29, and consistent break bellow it could strengthen the Yen further towards next objective 92.50. There are no major economic events for Japan today. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is positive and declining, while MACD and CCI are negative and dovish on the 1 hour chart, giving overall short signals.Technical resistance levels: 94.98 95.73 97.00Technical support levels: 93.29 92.50 91.37

Trading range: 94.05 - 93.45Trend: DownwardSell at 93.95 SL 94.25 TP 93.55

Already made +43 pips profit on USD/JPY today from the following signal:5:31 GMT+1 Sell USD/JPY at 93.97 SL 94.23 TP 93.47 exit at 7:36 GMT+1.Total today +203, yesterday +106, as shown in details at