USD/JPY Open 78.07 High 78.13 Low 77.75 Close 77.94
On Friday Dollar/Yen continued increasing insignificantly with almost 40 pips. The currency couple appreciated from 77.75 to 78.13 on Friday, not matching the negative Interbank sentiment at bellow -1%, closing the week at 77.94. This morning the Dollar is trading quietly against the Yen, moving within Friday's range for now. On the 1 hour chart the new upward channel is making renewal attempts, while on the 3 hour chart trading is still within wide range. Break above Friday's top and nearest resistance 78.13 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 77.75, and consistent break bellow it could strengthen the Yen further down towards next target 76.89. There are no major economic events for Japan today. Quotes are moving in line with the 20 and just above 50 EMA on the 1 hour chart, indicating short term neutral and medium term slim bullish pressure. The value of the RSI indicator is neutral and calm, MACD is positive and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 78.13 79.00 79.84
Technical support levels: 77.75 76.89 76.00
Trading range: 77.80 - 78.45
Buy at 77.93 SL 77.63 TP 78.33
Already made +10 pips profit on USD/JPY today from the following sent to clients only signal:
5:23 GMT Buy USD/JPY at 77.95 SL 77.69 TP 78.45, exit sent at 7:19 GMT+1.
Total today +56, on Friday +109, as shown in details at http://www.zifx.com/performance.php.