USD/JPY Open 76.23 High 76.91 Low 75.78 Close 76.19
On Friday Dollar/Yen decreased sharply with 110 pips, not matching the positive Interbank sentiment at almost +8%. The currency couple depreciated from 76.91 to 75.78 on Friday, closing the week at 76.19. This morning the Dollar is trading quietly against the Yen again, with movements within Friday's range for now. On the 1 hour chart range trading was broken downwards, while on the 3 hour chart quotes also broke down of the narrow range. Break above Friday's top and nearest resistance 76.91 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 75.78, and consistent break bellow it could strengthen the Yen further down towards next target 74.90. There are no major economic events for Japan today. Quotes are moving in line with the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bearish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over neutral to light short signals.
Technical resistance levels: 76.91 77.76 78.60
Technical support levels: 75.78 74.90 74.00
Trading range: 76.35 - 75.70
Sell at 76.21 SL 76.51 TP 75.81
Already made +17 pips profit on USD/JPY today from the following sent to clients only signal:
5:25 GMT+1 Sell USD/JPY at 76.25 SL 76.51 TP 75.75, exit sent at 9:31 GMT+1.
Total today +151, on Friday +133, as shown in details at http://www.zifx.com/performance.php.