Dollar/Yen made a significant decreasing movement on Wednesday. The currency couple reached a top at 94.73, than collapsed down to the bottom 91.82 with nearly 300 pips, and closed the day at 92.85. The Dollar is currently trying to recover on all charts, however short term signals are still bearish, but the 91.80 seems to be a good support level. Yesterday the Yen tested the above support, the break of which may trigger further descending movement towards 90.70. Immediate resistance is yesterday's top at 94.70. The CCI indicator is in the neutral zone on the 1 hour chart, suggesting calm trading.
Technical resistance levels: 95.40 96.50 97.80
Technical support levels: 91.80 90.70 89.65
Trading range: 93.45 - 92.80
Sell at 93.32 SL 93.62 TP 92.92
Already made +19 pips profit on USD/JPY today from the following signal:
5:47 GMT+1 Sell USD/JPY at 93.14 SL 93.40 TP 92.64 exited at 6:47 GMT.
Total today +131, yesterday +170, as shown at www.zifx.com/performance.php