USD/JPY Tranquility Continues For Now

By @ibtimes on

USD/JPY Open 76.35 High 76.76 Low 76.22 Close 76.34

On Monday Dollar/Yen traded with slight 50 pips decrease. The currency couple depreciated from 76.76 to 76.22 yesterday, matching the negative Interbank sentiment at bellow -52%, closing the day at 76.34. This morning the Dollar is trading quietly against the Yen, with movements at the lower end of yesterday's range for now. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart quotes are still moving quietly in narrow range. Break above yesterday's top and nearest resistance 76.76 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.22, and consistent break bellow it could strengthen the Yen further down towards next target 75.34. There are no major economic events for Japan today. Quotes are moving just above the even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is neutral and tranquil, MACD is neutral and inclining upwards, while CCI is has crossed up the 100 line on the 1 hour chart, giving overall neutral to light long signals.
Technical resistance levels: 76.76 77.62 78.45
Technical support levels: 76.22 75.34 74.50

Trading range: 76.30 - 76.90
Trend: Upward
Buy at 76.40 SL 76.10 TP 76.80

Already made +12 pips profit on USD/JPY today from the following sent to clients only signal:
5:26 GMT+1 Buy USD/JPY at 76.32 SL 76.06 TP 76.82, exit sent at 8:22 GMT+1.
Total today +124, yesterday +119, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com

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