USD/JPY Open 79.82 High 80.21 Low 79.68 Close 79.79

On Wednesday Dollar/Yen continued trading within narrow 25 pip range. The currency couple depreciated from 79.93 to 79.68 yesterday, not matching the positive money flow sentiment at above +13%, closing the day at 79.79. This morning the Dollar resumed ascending against the Yen, reaching 80.21.

On the 1 hour chart the upward channel looks good, while on the 3 hour chart new upward channel is emerging. Break above today's top and nearest resistance 80.21 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 79.68, and consistent break bellow it could strengthen the Yen further down towards next target 78.83.
Today are Japan Nationwide and Tokyo area CPIs, both at 23:30 GMT.

Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 80.21 81.10 81.96
Technical support levels: 79.68 78.83 78.00

Today so far +25 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Buy USD/JPY at 79.96 SL 79.70 TP 80.46, exit sent at 9:47 GMT+1.
Today so far +168, yesterday +132, as shown at our web site.

 

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