USD/JPY Open 108.08 High 109.10 Low 107.61 Close 108.02
On Friday dollar/yen decreased with 110 pips. The currency couple depreciated from 109.10 to 107.98 yesterday, matching the negative money flow sentiment at below -5%, closing the day at 108.02. This morning the dollar descended further against the yen, reaching 107.61.
On the 1-hour chart the downward channel has slowed down, while on the 3-hour chart the downward channel has resumed. Break above Friday's top and nearest resistance 109.10 would encourage further recovery of the dollar. Immediate support is today's bottom at 107.61, and consistent break below it could strengthen the yen further down towards next target 106.70.
Quotes are moving just above the 20 and below the 50 EMA on the 1-hour chart, indicating short-term slim bullish and medium-term bearish pressure. The value of the RSI indicator is neutral and inclining upwards, MACD is negative and tranquil, while CCI has crossed up the 100 line on the 1-hour chart, giving over all neutral signals.
Technical resistance levels: 109.10 110.00 110.87
Technical support levels: 107.61 106.70 105.85
Today +16 pips were gained on USD/JPY from the following signal:
5:30 GMT+1 Sell USD/JPY at 107.84 SL 108.10 TP 107.34, exit given at 7:38 GMT+1.
Total today +37, as shown at our web site.
Have a great day!