USD/JPY Open 76.83 High 77.44 Low 76.59 Close 76.82
On Monday Dollar/Yen decreased with 80 pips, matching the negative Interbank sentiment at almost -13%. The currency couple depreciated from 77.44 to 76.59 yesterday, closing the day at 76.82. This morning the Dollar is trading quietly against the Yen again, with movements at the lower end of yesterday's range for now. On the 1 hour chart range trading has formed, while on the 3 hour chart quotes are still caught in narrow range. Break above yesterday's top and nearest resistance 77.44 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.59, and consistent break bellow it could strengthen the Yen further down towards next target 75.69. Today was Japan Industrial output at 4:30 GMT. Quotes are moving just bellow the crossed 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over light short signals.
Technical resistance levels: 77.44 78.30 79.19
Technical support levels: 76.59 75.69 74.50
Trading range: 77.60 - 77.25
Buy at 76.71 SL 76.41 TP 77.11
Already made +3 pips profit on USD/JPY today from the following sent to clients only signal:
5:25 GMT+1 Buy USD/JPY at 76.84 SL 76.58 TP 77.34, exit sent at 7:00 GMT+1.
Total today +38, yesterday +163, as shown in details at http://www.zifx.com/performance.php.