USD/JPY Open 102.61 High 102.73 Low 102.40 Close 102.58
On Tuesday USD/JPY traded within narrow 30 pip range. The currency couple depreciated from 102.73 to 102.40 yesterday, matching the negative money flow sentiment at nearly -10%, closing the day at 102.58. This morning the Dollar is trading quietly against the Yen, with movements within yesterday's range for now.
On the 1 hour chart quotes are held within trading range, while on the 3 hour chart wider trading scope has formed. Break above yesterday's top and nearest resistance 102.73 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 102.40, and consistent break below it could strengthen the Yen further down towards next target 101.26.
There are no major economic events for Japan today.
Quotes are moving below the almost even 20 and 50 the EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 102.73 103.60 104.42
Technical support levels: 102.40 101.26 100.10
Today so far +11 pips profit/loss on USD/JPY today from the following sent to clients only signal:
5:15 GMT+1 Sell USD/JPY at 102.55 SL 102.81 TP 102.05, exit sent at 9:39 GMT+1.
Today so far +110, yesterday +45, as shown at our web site. Have a great day!