USD/JPY Open 78.07 High 78.29 Low 77.97 Close 78.01
On Monday Dollar/Yen decreased insignificantly with 30 pips, not matching the positive Interbank sentiment at nearly +19%. The currency couple depreciated from 78.29 to 77.97 yesterday, closing the day at 78.01. 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 higher level range trading has formed, while on the 3 hour chart trading has also moved into upper level range. Break above yesterday's top and nearest resistance 78.29 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.97, and consistent break bellow it could strengthen the Yen further down towards next target 77.10. Today are Japan Current account and Trade balance, both at 23:50 GMT. Quotes are moving just bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, 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: 78.29 79.12 80.00
Technical support levels: 77.97 77.10 76.27
Trading range: 78.15 - 77.50
Sell at 78.04 SL 78.34 TP 77.64
Already made +6 pips profit on USD/JPY today from the following sent to clients only signal:
5:23 GMT Sell USD/JPY at 78.05 SL 78.31 TP 77.55, exit sent at 7:21 GMT+1.
Total today +75, yesterday +124, as shown in details at http://www.zifx.com/performance.php.