USD/JPY Open 77.87 High 78.03 Low 77.68 Close 77.85
On Tuesday Dollar/Yen continued decreasing insignificantly with 30 pips. The currency couple depreciated from 78.03 to 77.79 yesterday, matching the negative Interbank sentiment at bellow -8%, closing the day at 77.85. This morning the Dollar weakened slightly further against the Yen, reaching 77.68. On the 1 hour chart new small angle upward channel is emerging, while on the 3 hour chart trading is still within wide range. Break above yesterday's top and nearest resistance 78.03 would encourage further recovery of the Dollar. Immediate support is today's bottom at 77.68, and consistent break bellow it could strengthen the Yen further down towards next target 76.83. There are no major economic events for Japan today. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and declining, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over light short signals.
Technical resistance levels: 78.03 78.89 79.71
Technical support levels: 77.68 76.83 76.00
Trading range: 77.85 - 77.25
Sell at 77.75 SL 78.05 TP 77.35
Already made +8 pips profit on USD/JPY today from the following sent to clients only signal:
5:18 GMT Sell USD/JPY at 77.76 SL 78.02 TP 77.26, exit sent at 9:31 GMT+1.
Total today +45, yesterday +109, as shown in details at http://www.zifx.com/performance.php.