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USD/JPY Holds Gains Just Above 91

By ForexJan 31, 2013 10:37AM GMT Add a Comment
 
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USD/JPY: Open 90.97 High 91.41 Low 90.74 Close 91.05

On Wednesday Dollar/Yen increased with almost 70 pips. The currency couple appreciated from 90.74 to 91.41 yesterday, matching the positive money flow sentiment at around +18%, closing the day at 91.05. This morning the Dollar is trading quietly against the Yen, with movements at the lower end of yesterday's range for now.

On the 1 hour chart the upward channel has resumed, while on the 3 hour chart the upward channel is intact. Break above yesterday's top and nearest resistance 91.41 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 90.74, and consistent break bellow it could strengthen the Yen further down towards next target 89.85.

Today is Japan Unemployment at 23:50 GMT.

Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and tranquil too, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 91.41 91.30 92.09
Technical support levels: 90.74 89.85 89.00

Today so far +21 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT Buy USD/JPY at 90.85 SL 90.59 TP 91.35, exit sent at 10:04 GMT.
Today so far +104, yesterday +197, as shown at our web site. Have a great day!


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