USD/JPY 99.95 - 8 April

USD/JPY Open 100.70 High 100.82 Low 99.49 Close 100.40

Dollar/Yen also continued its downward movement yesterday. The currency couple reached a bottom at 99.87, and closed the day at 100.40. The impaired formation rising wedge implies potential descending reversal scenario of the main trend. Short term resistance is 100.90. Signals are descending with objectives towards the region of 98.90. The CCI indicator is in the overbought zone and downwards on the 4 hour chart, assuming potential downward pressure.

Technical resistance levels: 100.85 102.10 103.40

Technical support levels: 98.90 98.00 96.85

Trading range: 100.05 - 99.45

Trend: Downward

Sell at 99.95 SL 100.25 TP 99.55

Already made +50 pips profit on USD/JPY today from the following signal:

5:46 GMT+1 Sell USD/JPY at 100.10 SL 100.36 TP 99.60 TP reached at 7:46 GMT.

Total today +186, yesterday +128, as shown at www.zifx.com/performance.php