USD/JPY 99.51 - 8 May

USD/JPY Open 99.11 High 99.50 Low 98.21 Close 98.06

Dollar/Yen made increasing movement yesterday. On the 4 hour chart the flag formation give us a valid ascending signal after the upward break. In the short term signals remain rising but a consistent movement over the 99.60 resistance is needed, before heading towards the 100.55 target. Short term support is represented by the 98.75 level. Break down of this level may bring the price out of the current trading range. The CCI indicator is in the neutral zone on the 1 hour chart.

Technical resistance levels: 99.60 100.55 101.50

Technical support levels: 98.75 97.65 96.50

Trading range: 99.65 - 99.00

Trend: Downward

Sell at 99.51 SL 99.81 TP 99.11

Already made +4 pips profit on USD/JPY today from the following signal:

5:45 GMT+1 Sell USD/JPY at 99.18 SL 99.44 TP 98.68 exited at 6:27 GMT.

Total today +91, yesterday +99, as shown at www.zifx.com/performance.php