USD/JPY Open 109.32 High 109.74 Low 108.78 Close 109.37
On Thursday dollar/yen decreased with 65 pips. The currency couple depreciated from 109.54 to 108.89 yesterday, not matching the positive money flow sentiment at over +3%, closing the day at 109.37. This morning the dollar widened its movements against the yen, declining from 109.74 to 108.78.
On the 1-hour chart the downward channel is on hold, while on the 3-hour chart the downward channel has slowed down. Break above today's top and nearest resistance 109.74 would encourage further recovery of the dollar. Immediate support is today's bottom at 108.78, and consistent break below it could strengthen the yen further down towards next target 107.86.
Quotes are moving below the closing 20 and 50 EMA on the 1-hour chart, indicating bearish 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: 109.74 110.66 109.80
Technical support levels: 108.78 107.86 107.00
Today +5 pips were gained on USD/JPY from the following signal:
5:30 GMT+1 Sell USD/JPY at 109.61 SL 109.87 TP 109.11, exit given at 5:34 GMT+1.
Total today +60, as shown at our web site.
Have a great weekend!
