USD/JPY Open 78.10 High 78.16 Low 77.87 Close 78.04
On Wednesday Dollar/Yen increased insignificantly with 25 pips. The currency couple appreciated from 77.92 to 78.16 yesterday, not matching the negative Interbank sentiment at under -18%, closing the day at 78.04. This morning the Dollar weakened against the Yen, reaching down to 77.87. On the 1 hour chart quotes are moving at the upper end of yesterday's range, while on the 3 hour chart trading is still within wider range. Break above yesterday's top and nearest resistance 78.16 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.87, and consistent break bellow it could strengthen the Yen further down towards next target 77.00. There are no major economic events for Japan today. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim term bearish pressure. The value of the RSI indicator is negative and declining, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 78.16 79.00 80.89
Technical support levels: 77.87 77.00 76.17
Trading range: 78.05 - 77.40
Sell at 77.93 SL 78.23 TP 77.53
Already made +4 pips profit on USD/JPY today from the following sent to clients only signal:
5:20 GMT Buy USD/JPY at 78.05 SL 77.79 TP 78.55, exit sent at 5:44 GMT+1.
Total today +53, yesterday +95, as shown in details at http://www.zifx.com/performance.php.