USD/JPY Open 76.85 High 76.96 Low 76.77 Close 76.83
On Tuesday Dollar/Yen traded within very narrow 15 pip range. The currency couple depreciated from 76.91 to 76.77 yesterday, not matching the positive Interbank sentiment at over +7%, closing the day at 76.83. This morning the Dollar lifted slightly against the Yen, reaching 76.96. On the 1 hour chart new range trading is forming, while on the 3 hour chart quotes are holding within wider trading range. Break above today's top and nearest resistance 76.96 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.77, and consistent break bellow it could strengthen the Yen further down towards next target 75.90. Today are Japan Leading and Coincident indicators composite index, Current account and Trade balance, at 5 and 23:50 GMT respectively. Quotes are moving just above the crossed and close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and declining, MACD is neutral and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral to light long signals.
Technical resistance levels: 76.96 77.80 78.64
Technical support levels: 76.77 75.90 75.00
Trading range: 77.10 - 76.45
Sell at 76.96 SL 77.26 TP 76.56
Already made +3 pips profit on USD/JPY today from the following sent to clients only signal:
5:21 GMT Sell USD/JPY at 76.92 SL 77.18 TP 76.42, exit sent at 9:19 GMT+1.
Total today +127, yesterday +79, as shown in details at http://www.zifx.com/performance.php.