Open 103.71
High 103.96
Low 102.89
Close 103.73
On Wednesday the USD/JPY continued increasing significantly with 95 pips. The currency couple appreciated from 102.89 to 103.85 yesterday, matching the positive money flow sentiment at over +22%, closing the day at 103.73. This morning the dollar lifted slightly further against the yen, reaching 103.96.
On the 1 hour chart new upward channel has emerged, while on the 3 hour chart quotes broke up of the wide scope. Break above today's top and nearest resistance 103.96 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 102.89, and consistent break below it could strengthen the yen further down towards next target 102.00.
Quotes are moving above the widened 20 and 50 the EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 103.96 104.84 105.67
Technical support levels: 102.89 102.00 101.16
Today so far +6 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Buy USD/JPY at 103.85 SL 103.59 TP 104.35, exit sent at 6:34 GMT+1.
Today so far +29, yesterday +127, as shown at our web site.