USD/JPY Open 77.17 High 77.54 Low 77.00 Close 77.10
On Thursday Dollar/Yen traded within very narrow 25 pip range. The currency couple appreciated from 77.00 to 77.25 yesterday, not matching the negative Interbank sentiment at almost -8%, closing the day at 77.10. This morning the Dollar ascended against the Yen, climbing to 77.54. On the 1 hour chart range trading is emerging, while on the 3 hour chart wide range trading has formed. Break above today's top and nearest resistance 77.54 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 77.00, and consistent break bellow it could strengthen the Yen further down towards next target 76.16. There are no major economic events for Japan today. Quotes are moving above the close and twisted 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and rising, MACD is positive and inclining upwards too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 77.54 78.40 79.26
Technical support levels: 77.00 76.16 75.33
Trading range: 77.30 - 77.90
Buy at 77.40 SL 77.10 TP 77.80
Already made +8 pips profit on USD/JPY today from the following sent to clients only signal:
5:23 GMT Buy USD/JPY at 77.39 SL 77.13 TP 77.89, exit sent at 9:10 GMT+1.
Total today +176, yesterday +89, as shown in details at http://www.zifx.com/performance.php.