USD/JPY Open 80.60 High 80.88 Low 80.26 Close 80.55
On Thursday Dollar/Yen increased with 60 pips, matching the positive Interbank sentiment at nearly +11%. The currency couple appreciated from 80.26 to 80.86 yesterday, closing the day at 80.55. This morning the Dollar gained further against the Yen, climbing up to 80.88. On the 1 hour chart range trading has formed, while on the 3 hour chart quotes are moving within wide trading range. Break above today's top and nearest resistance 80.88 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 80.26, and consistent break bellow it could strengthen the Yen further down towards next target 79.44. There are no major economic events for Japan today. Quotes are moving just above the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is neutral and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 80.88 81.75 82.56
Technical support levels: 80.26 79.44 78.61
Trading range: 80.60 - 81.20
Buy at 80.70 SL 80.40 TP 81.10
Already made +22 pips profit on USD/JPY today from the following signal:
5:28 GMT+1 Sell USD/JPY at 80.77 SL 81.03 TP 80.27, exit sent at 7:39 GMT+1.
Total today +123, yesterday +118, as shown in details at http://www.zifx.com/performance.php.