USD/JPY Open 103.85 High 104.07 Low 103.57 Close 103.86
On Wednesday USD/JPY traded within 35 pip range. The currency couple depreciated from 103.94 to 103.57 yesterday, not matching the positive money flow sentiment at over +16%, closing the day at 103.86. This morning the Dollar lifted further against the Yen, reaching 104.07.
On the 1 hour chart quotes broke up of the trading range, while on the 3 hour chart wider trading scope has formed. Break above today's top and nearest resistance 104.07 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 103.08, and consistent break below it could strengthen the Yen further down towards next target 102.70.
There are no major economic events for Japan today.
Quotes are moving above the 20 and 50 the EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and hesitant, 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: 104.07 104.95 105.78
Technical support levels: 103.57 102.70 101.88
Today so far +3 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Buy USD/JPY at 103.97 SL 103.71 TP 104.47, exit sent at 5:16 GMT+1.
Today so far +53, yesterday +50, as shown at our web site. Have a great day!