USD/JPY Waving Quietly Within Narrow Range

By @ibtimes on

USD/JPY Open 76.90 High 77.09 Low 76.66 Close 76.74

On Friday Dollar/Yen increased insignificantly with 30 pips, not matching the negative Interbank sentiment at almost -57%. The currency couple appreciated from 76.66 to 76.97 on Friday, closing the week at 76.74. This morning the Dollar rose further against the Yen, reaching up to 77.09. On the 1 hour chart trading is still caught in a range, while on the 3 hour chart quotes are moving quietly in narrow range. Break above today's top and nearest resistance 77.09 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 76.66, and consistent break bellow it could strengthen the Yen further down towards next target 75.79. Today is Japan Day of Senior Citizens. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term bullish pressure. The value of the RSI indicator is thinly negative and calm, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall neutral to light short signals.
Technical resistance levels: 77.09 78.00 78.83
Technical support levels: 76.66 75.79 75.00

Trading range: 76.95 - 76.30
Trend: Downward
Sell at 76.84 SL 77.14 TP 76.44

Already made +2 pips profit on USD/JPY today from the following sent to clients only signal:
5:23 GMT+1 Buy USD/JPY at 76.91 SL 76.65 TP 77.41, exit sent at 5:25 GMT+1.
Total today +85, on Friday +115, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com

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