USD/JPY Open 121.40 High 121.67 Low 120.98 Close 121.42
On Wednesday Dollar/Yen increased insignificantly with 60 pips. The currency couple appreciated from 121.01 to 121.63 yesterday, matching the positive money flow sentiment at around +11%, closing the day at 121.42. This morning the Dollar lifted slightly further against the Yen, reaching 121.67, than dropped to 120.98.
On the 1 hour chart the new upward channel looks good, while on the 3 hour chart the upward channel is making renewal attempts. Break above today's top and nearest resistance 121.67 would encourage further recovery of the Dollar. Immediate support is today's bottom at 120.98, and consistent break below it could strengthen the Yen further down towards next target 120.10.
Quotes are moving below the touching 20 and 50 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 long signals.
Technical resistance levels: 121.67 122.55 123.40
Technical support levels: 120.98 120.10 119.27
Today so far +3 pips on USD/JPY today from the following signal:
5:30 GMT Up USD/JPY at 121.43 Limit 121.17 Target 121.93, exit given at 5:34 GMT.
Today so far +28, yesterday +187, as shown at the website. Have a great day!