USD/JPY Open 118.80 High 119.10 Low 118.61 Close 118.79
On Wednesday dollar/yen increased insignificantly with 45 pips. The currency couple appreciated from 118.61 to 119.07 yesterday, matching the positive money flow sentiment at over +9%, closing the day at 118.79. This morning the dollar lifted slightly further against the yen, reaching 119.10, than turned downwards.
On the 1 hour chart range trading has formed, while on the 3 hour chart the upward channel has turned into range trading. Break above yesterday's top and nearest resistance 119.10 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 118.61, and consistent break below it could strengthen the yen further down towards next target 117.74.
Quotes are moving below the crossing and close 20 and 50 the EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 119.10 119.98 120.80
Technical support levels: 118.61 117.74 116.90
Today so far +31 pips on USD/JPY today from the following signal:
5:30 GMT Down USD/JPY at 118.98 Limit 119.24 Target 118.48, exit given at 8:09 GMT.
Today so far +113, yesterday +92, as shown at the website. Have a great day!