Dollar/Yen closed higher on Wednesday as part of the consolidated reduction from last week. On the 1 hour chart the currency couple broke downwards the rectangle area, but seemed to hesitate to continue the descending movement and today sharply rose. The trend line gave a good support and a bouncing line. Break below could lead to further decreasing momentum. Immediate resistance is at today's top 99.45. The CCI indicator has just crossed up the 100 line on the 1 hour chart, assuming continuation of the increasing momentum.
Technical resistance levels: 99.15 100.30 101.50
Technical support levels: 98.00 97.05 96.00
Trading range: 99.05 - 99.65
Buy at 99.15 SL 98.85 TP 99.55
Already made +27 pips profit on USD/JPY today from the following signal:
5:44 GMT+1 Buy USD/JPY at 98.51 SL 98.25 TP 99.01 exited at 7:35 GMT.
Total today +99, yesterday +164, as shown at www.zifx.com/performance.php