Dollar/Yen traded within the 90.68 - 90.16 range on Monday, closing the day at 90.30. After testing the upper limit of the downward channel seen on the 3 hour chart at 90.68 yesterday, the currency couple renewed its decreasing trend today down to 89.62. Going bellow that level would confirm the Dollar's weakness against the Yen, and depreciating of the pair may continue towards 88.87, confirming the integrity of the bearish channel. First resistance is yesterday's peak at 90.68. There economic events today for Japan are the Corporate goods and Machinery orders at 23:50 GMT. Quotes are currently moving bellow the 20 and 50 EMA, indicating bearish pressure. The RSI indicator is negative and inclining upwards, MACD is negative and leaning downwards, while CCI has crossed down the 100 line and is quiet on the 1 hour chart, giving overall short signals.
Technical resistance levels: 90.68 91.26 91.97
Technical support levels: 89.62 88.87 88.04
Already made +38 pips profit on USD/JPY today from the following signal:
5:36 Sell USD/JPY at 90.01 SL 90.27 TP 89.51 exit sent 9:33 GMT.
Total today +162, yesterday +131, as shown in details at www.zifx.com/performance.php.