USD/JPY Open 119.14 High 119.75 Low 118.77 Close 119.11
On Wednesday Dollar/Yen decreased with almost 100 pips. The currency couple depreciated from 119.75 to 118.77 yesterday, not matching the positive money flow sentiment at around +5%, closing the day at 119.11. This morning the Dollar is trading quietly against the Yen, with movements at the lower half of yesterday's range for now.
On the 1 hour chart wide range trading has taken shape, while on the 3 hour chart wide scope trading has also formed. Break above yesterday's top and nearest resistance 119.75 would encourage further recovery of the Dollar. Immediate support is yesterday's bottom at 118.77, and consistent break below it could strengthen the Yen further down towards next target 117.90.
Quotes are moving below the parallel 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is positive and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 119.75 120.64 121.47
Technical support levels: 118.77 117.90 117.08
Today so far +41 pips on USD/JPY today from the following signal:
5:30 GMT+1 Down USD/JPY at 119.31 Limit 119.57 Target 118.81, exit given at 11:50 GMT+1.
Today so far +101, yesterday +191.