USD/JPY Open 124.01 High 125.06 Low 123.78 Close 124.08
On Monday dollar/yen continued decreased with 125 pips. The currency couple depreciated from 125.06 to 123.78 yesterday, not matching the positive money flow sentiment at around +6%, closing the day at 124.08. This morning the dollar is trading quietly the טen, with movements within yesterday's range for now.
On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart the upward channel is intact. Break above yesterday's top and nearest resistance 125.06 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 123.78, and consistent break below it could strengthen the yen further down towards next target 122.90.
Quotes are moving above the crossing 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 125.06 125.92 126.76
Technical support levels: 123.78 122.90 122.02
Today +20 pips were gained so far on USD/JPY from the following signal:
5:30 GMT+1 Down USD/JPY at 123.98 Limit 124.24 Target 123.48, exit given at 6:23 GMT+1.
Today so far +93, total yesterday +92, as shown at the website. Have a great day!