USD/JPY 92.37 - 8 September 2009
USD/JPY Open 92.98 High 93.28 Low 92.10 Close 93.04

Dollar/Yen was trading hesitantly on Monday, forming divergence on the daily chart. The main trend should continue to be descending, but be aware for possible upwards correctional turn if yesterday's top and first resistance for today at 93.30 is broken. Break above this level could also be seen as a break out of the downward channel, with objectives towards 94.45. Immediate support is 92.10, the break of which may lead to stronger decreasing impulse towards next key support at 91.00. The CCI indicator has crossed down the 100 line on the 1 hour chart, showing strong accumulated bearish pressure.

Technical resistance levels: 93.30 94.45 95.35

Technical support levels: 92.10 91.00 90.05

Trading range: 92.50 - 91.85

Trend: Downward

Sell at 92.37 SL 92.67 TP 91.97

Already made +18 pips profit on USD/JPY today from the following signal:

5:39 GMT+1 Sell USD/JPY at 92.76 SL 93.02 TP 92.26 at 7:58 GMT.

Total today +190, yesterday +139, as shown at www.zifx.com/performance.php

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