USD/JPY Open 79.87 High 80.01 Low 79.68 Close 79.84
On Tuesday Dollar/Yen traded within narrow 30 pip range. The currency couple depreciated from 80.01 to 79.70 yesterday, not matching the positive money flow sentiment at around +18%, closing the day at 79.84. This morning the Dollar slipped slightly against the Yen, reaching 79.68.
On the 1 hour chart the upward channel looks good, while on the 3 hour chart quotes broke up the wide trading range. Break above yesterday's top and nearest resistance 80.01 would encourage further recovery of the Dollar. Immediate support is today's bottom at 79.68, and consistent break bellow it could strengthen the Yen further down towards next target 78.83.
There are no major economic events for Japan today.
Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI has crossed down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 80.01 80.90 81.73
Technical support levels: 79.68 78.83 78.00
Today so far +12 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:17 GMT+1 Sell USD/JPY at 79.85 SL 80.11 TP 79.35, exit sent at 9:10 GMT+1.
Today so far +132, yesterday +138, as shown at our web site.
Copyright ZIFX.com All rights reserved.