Open 104.07
High 104.18
Low 103.74
Close 104.04
On Tuesday the USD/JPY traded within 45 pip range. The currency couple appreciated from 103.74 to 104.18 yesterday, matching the positive money flow sentiment at above +5%, closing the day at 104.04. This morning the Dollar is trading quietly against the Yen, with movements within yesterday's range for now.
On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart new upward channel has formed. Break above yesterday's top and nearest resistance 104.18 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 103.74, and consistent break below it could strengthen the Yen further down towards next target 102.88.
Quotes are moving just below the almost even 20 and 50 the EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and hesitant, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 104.18 105.06 105.88
Technical support levels: 103.74 102.85 102.00
Today so far +10 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 6:07 GMT+1.
Today so far +44, yesterday +65.