USD/JPY Open 76.94 High 77.24 Low 76.27 Close 76.88
On Monday Dollar/Yen traded within nearly 100 pip range. The currency couple first depreciated to 76.27, than climbed to 77.24 yesterday, matching the positive Interbank sentiment at above +10%, closing the day at 76.88. This morning the Dollar is showing slight weakness against the Yen, but movements are still within yesterday's range for now. On the 1 hour chart new downward channel has emerged, while on the 3 hour chart the wider range was broken downwards. Break above yesterday's top and nearest resistance 77.24 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 76.27, and consistent break bellow it could strengthen the Yen further down towards next target 75.41. Today is Japan Bank holiday. Quotes are moving just bellow the 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 negative and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving over light short signals.
Technical resistance levels: 77.24 78.10 79.00
Technical support levels: 76.27 75.41 74.55
Trading range: 76.90 - 76.25
Sell at 76.77 SL 77.07 TP 76.37
Already made +6 pips profit on USD/JPY today from the following sent to clients only signal:
5:21 GMT Sell USD/JPY at 76.81 SL 77.07 TP 76.31, exit sent at 6:15 GMT+1.
Total today +64, on Friday +106, as shown in details at http://www.zifx.com/performance.php.