On Thursday Dollar/Yen increased with 80 pips. The currency couple appreciated from 99.48 to 100.30 yesterday, matching the positive money flow sentiment at almost +14%, closing the day at 100.01. This morning the Dollar lifted slightly further against the Yen, reaching 100.46.
On the 1 hour chart the upward channel is making renewal attempts, while on the 3 hour chart quotes are held within wide trading scope. Break above today's top and nearest resistance 100.46 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 99.48, and consistent break below it could strengthen the Yen further down towards next target 98.60.
Today were Japan Leading and Coincident indicators, both at 5 GMT.
Quotes are moving just below the close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and declining, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 100.46 101.35 102.14
Technical support levels: 99.48 98.60 97.80
Today so far +9 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Buy USD/JPY at 100.27 SL 100.01 TP 100.77, exit sent at 5:48 GMT+1.
Today so far +127, yesterday +129, as shown at our web site. Have a great weekend!
USD/JPY Chart" title="USD/JPY Chart">