USD/JPY Open 108.56 High 109.39 Low 107.86 Close 108.53
On Tuesday dollar/yen increased with almost 100 pips. The currency couple appreciated from 107.86 to 108.79 yesterday, matching the positive money flow sentiment at above +6%, closing the day at 108.53. This morning the dollar ascended further against the yen, reaching 109.39.
On the 1-hour chart the downward channel is on hold, while on the 3-hour chart the downward channel has slowed down. Break above today's top and nearest resistance 109.39 would encourage further recovery of the dollar. Immediate support is yesterday's bottom at 107.86, and consistent break below it could strengthen the yen further down towards next target 107.00.
Quotes are moving above the crossing 20 and 50 EMA on the 1-hour chart, indicating bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is positive and inclining upwards, while CCI has crossed up the 100 line on the 1-hour chart, giving over all long signals.
Technical resistance levels: 109.39 110.00 110.87
Technical support levels: 107.86 107.00 106.21
Today +50 pips were gained on USD/JPY from the following signal:
5:30 GMT+1 Buy USD/JPY at 106.87 SL 106.61 T 107.37, TP reached at 12:34 GMT+1.
Total today +210, as shown at our web site.
Have a great day!
