USD/JPY Open 120.17 High 120.28 Low 119.33 Close 120.05
On Monday USD/JPY increased slightly with 45 pips. The currency couple appreciated from 119.71 to 120.16 yesterday, matching the positive money flow sentiment at around +7%, closing the day at 120.05. This morning the dollar lifted further against the Yen, reaching 120.28, than declined.
On the 1 hour chart range trading has taken shape, while on the 3 hour chart wide scope trading has also formed. Break above yesterday's top and nearest resistance 119.80 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 119.33, and consistent break below it could strengthen the Yen further down towards next target 118.55.
Quotes are moving below the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term bearish and medium term neutral pressure. The value of the RSI indicator is negative and hesitant, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 119.80 120.66 121.50
Technical support levels: 119.33 118.55 117.64
Yesterday +13 pips gained on USD/JPY today from the following signal:
5:30 GMT+1 Up USD/JPY at 120.15 Limit 119.89 Target 120.65, exit given at 6:34 GMT+1.
Today so far +178, total yesterday +114. Have a great day!