USD/JPY Open 80.87 High 81.06 Low 80.37 Close 80.94 Currently 80.55
On Wednesday Dollar/Yen continued increasing insignificantly with nearly 70 pips, matching the positive Interbank sentiment at nearly +16%. The currency couple appreciated from 80.37 to 81.06 yesterday, closing the day at 80.94. This morning the Dollar is trading hesitantly against the Yen, and within yesterday's range for now. On the 1 hour chart new upward channel is emerging, while on the 3 hour chart quotes are moving within wide trading range. Break above yesterday's top and nearest resistance 81.06 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 80.37, and consistent break bellow it could strengthen the Yen further down towards next target 79.50. There are no major economic events for Japan today. Quotes are moving bellow the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term bearish and medium term neutral pressure. The value of the RSI indicator is negative and declining, MACD is positive and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 81.06 81.90 82.77
Technical support levels: 80.37 79.50 78.59
Trading range: 80.45 - 81.05
Buy at 80.55 SL 80.25 TP 80.95
Already made +10 pips profit on USD/JPY today from the following signal:
5:27 GMT+1 Buy USD/JPY at 80.93 SL 80.67 TP 81.43, exit sent at 5:53 GMT+1.
Total today +140, yesterday +191, as shown in details here.