USD/JPY Open 77.65 High 77.80 Low 77.18 Close 77.67
On Friday Dollar/Yen resumed increasing with 60 pips. The currency couple appreciated from 77.18 to 77.80 on Friday, not matching the negative Interbank sentiment at almost -3%, closing the week at 77.67. This morning the Dollar is trading hesitantly against the Yen, with movements still within Friday's range for now. On the 1 hour chart new upward channel is emerging, while on the 3 hour chart wide range trading has formed. Break above Friday's top and nearest resistance 77.80 would encourage further recovery of the Dollar. Immediate support is Friday's bottom at 77.18, and consistent break bellow it could strengthen the Yen further down towards next target 76.31. Today are Japan Unemployment, Household spending and Retail sales, at 23:30 and 23:50 GMT respectively. Quotes are moving in line with the 20 and above the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bullish pressure. The value of the RSI indicator is neutral and declining, MACD is positive and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 77.80 78.67 79.50
Technical support levels: 77.18 76.31 75.50
Trading range: 77.50 - 78.90
Buy at 77.64 SL 77.34 TP 78.04
Already made +12 pips profit on USD/JPY today from the following sent to clients only signal:
5:23 GMT Buy USD/JPY at 77.63 SL 77.37 TP 78.13, exit sent at 7:38 GMT+1.
Total today +101, on Friday +176, as shown in details at http://www.zifx.com/performance.php.