USD/JPY Open 112.51 High 112.67 Low 112.00 Close 112.54
On Thursday dollar/yen decreased insignificantly with 55 pips. The currency couple depreciated from 112.67 to 112.10 yesterday, matching the negative money flow sentiment at almost -2%, closing the day at 112.54. This morning the dollar descended further against the yen, reaching 111.89.
On the 1-hour chart the range trading continues, while on the 3-hour chart the downward channel is still on hold. Break above yesterday's top and nearest resistance 112.67 would encourage further recovery of the dollar. Immediate support is today's bottom at 111.89, and consistent break below it could strengthen the yen further down towards next target 111.00.
Quotes are moving just below the parallel 20 and 50 EMA on the 1-hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and hesitant, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1-hour chart, giving over all light short signals.
Technical resistance levels: 112.67 113.58 114.45
Technical support levels: 111.89 111.00 110.16
Today +30 pips were gained on USD/JPY from the following signal:
5:30 GMT+1 Sell USD/JPY at 112.28 SL 112.54 TP 111.78, exit given at 13:15 GMT+1.
Total today +161, as shown at our web site.
Have a great weekend!
