USD/JPY Open 76.77 High 76.95 Low 76.56 Close 76.73
On Friday Dollar/Yen continued trading within narrow 35 pip range, not matching the negative Interbank sentiment at bellow -4%. The currency couple appreciated from 76.58 to 76.95 on Friday, closing the week at 76.73. This morning the Dollar weakened against the Yen, descending down to 76.56. On the 1 hour chart small angle upward channel has emerged, while on the 3 hour chart quotes are still caught in narrow range. Break above Friday's top and nearest resistance 76.95 would encourage further recovery of the Dollar. Immediate support is today's bottom at 76.56, and consistent break bellow it could strengthen the Yen further down towards next target 75.67. Today are Japan Current account August and Trade balance, both at 23:50 GMT. Quotes are moving bellow the crossed 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is neutral and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving light short signals.
Technical resistance levels: 76.95 77.84 78.68
Technical support levels: 76.56 75.67 74.80
Trading range: 76.75 - 76.10
Sell at 76.62 SL 76.92 TP 76.22
Already made +5 pips profit on USD/JPY today from the following sent to clients only signal:
5:26 GMT+1 Sell USD/JPY at 76.72 SL 76.98 TP 76.22, exit sent at 7:38 GMT+1.
Total today +119, on Friday, as shown in details at http://www.zifx.com/performance.php.